Printed in Great Britain Can Newly Industrializing Economies Catch Up in the Science-Based Industries? A Study of the Korean Biotechnology Sector

This paper analyzes the Korean biotechnology sector with an analytical framework of National Innovation System (NIS). We examine whether newly industrializing economies (NIEs) can catch up with advanced economies in newly-emerging, knowledge-intensive industries such as biotechnology. We demonstrate that Korea is emerging as a key player in the global biotechnology scene in terms of R&D activities, catching up with other advanced countries, such as Japan, and keeping pace with regional competitors lik