Byun, Hyung-Yoon; Kim, Youn-Suk
September 2000
Multinational Business Review (St. Louis University);Fall2000, Vol. 8 Issue 2, p43
Academic Journal
IMF stabilization policy has forced Korea to implement significant reforms. Arguing the changes necessary to catalyze a revitalization of the Korean economy, this paper contends that Korea is going to emerge from the crisis more competitive, having better allocated its resources along with facilitating technology-based industrial alliance with global companies. Korea is at a crossroads, and its present crisis signifies a challenge which the success of developmental efforts brings with it. Since Korea can no longer rely on technology and R&D imports, it has to reformulate its technology policy, creating a climate for catching up high technology. Korea must muster the human capital, as well as financial and other resources to generate an industrial growth path, complemented by industrial alliance.


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