Reflections on Korea's acquisition of technological capability

Abstract

Technological development usually is not associated with the industrialization of developing countries because intervention plays only a minor part. However, industrialization adds to the variety of products made and processes used in a country and thus involves technological development in the sense of gaining mastery over products and processes that are new to a developing economy. In Korea's technological development, reliance on proprietary transfers of technology by direct foreign investment and licensing agreements has been limited with turnkey plants and machinery imports playing the greater role. In addition, a wide variety of informal transfers involving imitation and apprenticeship has been important. Selectivity and the part played in it by imports and exports of the elements of technology have also been striking. Among semi-industrial economies Korea has the largest volume of exports of many of the elements of technology. Five kinds are discussed - overseas construction, plant exports, direct investment, licensing and technical agreements, and consulting services. Trade in the elements of technology make it possible for industrial development to proceed faster than technological development.

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