In 2020, the Korean economy is expected to grow 0.1 percent from the previous year amid the COVID-19 pandemic, due to continued sluggish exports, the transition of consumption to a negative trend, and limited recovery in investment demand. The future trajectory of the pandemic is the most significant factor for the domestic and international economies. In addition, the trends of policy effects in major economies, U.S.-China trade tensions, consumer sentiment, and effects of the Korean government’s policies will affect the economy as well.
Innovation is the product of intentional human endeavor. Countries seeking world-leading innovative enterprises and industries need to implement thoughtful and effective national innovation systems, and supporting policy instruments, to maximize their innovation potential. Reports here review the innovation systems/policies of GTIPA-member nations.