Examining the Future Industry Competition using Industrial Technology Current Status Analysis: Focus on Korea, U.S. and China

The global technology hegemony competition has begun, and the development of critical and emerging technologies and strengthen the security and resiliency of our economies are being promoted as a national strategy. National capabilities are being concentrated for future industries based on various advanced technologies. The future industrial technology competitiveness was analyzed through the industrial technology state review in Korea, the US and China. In terms of R & D potential, Korea has a relative advantage in terms of R & D ratio as a percentage of GDP and it’s RTA. However, in a situation where the size of the economy is relatively small, it is necessary to select and concentrate, and it is necessary to efficiently promote the separation and cooperation of their roles between leading companies and governments. The number of researchers is not only numerically weak, but it is also necessary to recognize that the slowdown in growth is a serious problem. In terms of the industrialization potential of technology, Korea's number of triadic patent families are not only inferior to those of the US and China, but also show a red light for future industrial technology competitiveness with an RTA value of less than 0.66. The ICT industry balance is also five times weaker than China and the gap between the two countries has not narrowed over the past 15 years. Both the number of unicorn companies, which is a measure of innovative growth in the technology industry, and the number of the world's largest technology companies, which is a preemption and leading measure of the technology industry, are smaller than those of China and the U.S. With a comprehensive future industrial strategy, Korea is ready to do what it takes to make sure Korean businesses remain fit to achieve their ambitions and cope with increasing global technology competition.