Transitions of Innovation Activities in Latecomer Countries: An Exploratory Case Study of South Korea

The main aim of this study is to explore the diverse route of innovation activities and key characteristics during the transition period of the emerging economies using the analytical framework of innovation system and product life cycle. Study distinguishes three archetypes of innovation activities: deepening of the process, architectural, and radical innovations. Study also argues that each route of innovation activities in the transition period of the emerging economies requires corresponding institutional frameworks, different base of capabilities, and different relationships among innovation actors to facilitate the transition from imitator to innovator. Finally, some policy implications of this attribute are considered.