Industry and Technology Policies in Korea The Korean innovation system is in many ways highly developed and has helped to underpin Korea’s rapid industrialisation. However long standing policy emphases on manufacturing and large firms are today in question. Structural problems such as the relatively weak innovation performance of SMEs a lagging services sector and limited domestic job creation among the industrial conglomerates have led to a shift in policy priorities. This shift is crystallised in the current government’s Creative Economy Strategy which entails a far reaching set of measures aimed at fostering cutting edge innovation and consolidating a knowledge based economy increasingly driven by high value services. This review addresses Korea’s industry and technology policies and institutions and provides policy recommendations.