The new winds of the fourth Industrial Revolution are blowing through the ASEAN economies. ASEAN consists of 10 South Asian countries (Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam), all of have attained rapid economic...

A cluster is a geographic concentration of interconnected companies and associated institutions in a particular field. It is widely accepted that clusters generate better economic performance than simple aggregations of companies, as mutual influence between clusted firms makes knowledge sharing...

Regional development that includes income distribution and qualitative growth is one of the major issues in regional economics. Furthermore, Korean regional governments set regional development as a main goal and strive to improve it. However, regional income-Product(Gross Regional Domestic...

In recent years, the importance of the service industry has been steadily increasing in terms of GDP and employment. In general, it is known that the service sectors of developed countries make significant contributions to overall economic productivity compared to those in less developed...

The service industries of China have grown continuously with the development of the Chinese economy as a whole since the adoption of the reform and opening up policies of 1978. The share of service industries of the GDP increased by more than double, from 24.6 percent in 1978 to 52.2 percent in...

The stable supply of energy is very important in Korea owing to its high level of energy consumption and heavy reliance on imports for its energy use. As of 2017, Korea’s final energy consumption per capita was 4.55 tons of oil equivalent (toe), 3.5 times the global average of 1.28 toe, with...

Diminishing Japanese foreign direct investment in Korea has showed no signs of abatement, continuing a precipitous decline from 2.69 billion USD in 2013, 2.49 billion in 2014, and 1.67 billion in 2015 to 1.25 billion in 2016 after peaking at 4.54 billion in 2012. Persistent issues with Abenomics...

The world's major countries are aggressively preparing national strategic countermeasures in response to climate change, the fourth industrial revolution and tightening environmental regulations.Korea is also preparing for the new energy paradigm in earnest. The government is working on a...

Regional trade or regional integration is becoming increasingly important. According to Milberg et al (2013), in the post-Washington Consensus world of today, regional trade and integration are promoted not only to expand markets but also to create regional production networks, especially in the...

Due to the structural low-growth around the globe and the advent of the 4th Industrial Revolution, industrial and regional policy see a paradigm shift. Industrial policies shift from ‘picking or backing winners’ to ‘matching winners’. ‘Matching winners’ industrial policy aims to...