The 4th Industrial Revolution Strategy and Cooperation in China, India and Singapore

4 Pages Posted: 20 May 2018

See all articles by Choong Jae Cho

Choong Jae Cho

Korea Institute for International Economic Policy

Young Chul Song

Korea Institute for International Economic Policy

Date Written: April 3, 2018

Abstract

This study focuses on analyzing China, India and Singapore's driving capability for the 4th IR, related national policies, plans, or strategies, etc. In addition, this study suggests implications and directions for the development of policies related to the 4th IR by the Korean government and the strengthening of cooperation with each of these three countries. In conclusion, we presents the following cooperation directions and policy tasks in respect to the three countries above. First, we need to enhance selective and strategic cooperation with China in the aspects of competition and response via the following strategies: 1) strengthening R&D projects for original technologies in new technology and industry areas, thus focusing on early commercialization and standardization; 2) developing strategies to actively utilize digitalized consumers in China and protecting domestic digital consumers and cross-border personal information; 3) advancing into the areas of 5G, smart manufacturing and robot-related fields in China; 4) enhancing collaboration in terms of internationalization of innovative entrepreneurial ecosystems; 5) pursuing agreements to address the issues of technology deception and technical protection. Second, we need to enhance all-round convergence and win-win cooperation with India through the following channels: 1) early enhancement of core SW technologies such as artificial intelligence, embedded and cloud computing via using India's excellent SW, IT service capability; 2) taking advantage of India's Big Data resources, including Aadhaar, the world's largest digital personal authentication system; 3) participating in smart manufacturing, digital infrastructure development with new technologies and products related to smart city initiatives, cooperation between start-ups in both countries; 4) to do this, we will need to consider utilizing the Vision Group of Korea-India Future Strategy; and 5) creating a Korea-India Innovation Venture Fund. Lastly, with Singapore, we need to strengthen innovation cooperation in policies and systems, education, R&D, and entrepreneurial ecosystems that underpin the 4th IR. To do this, the following tasks will be necessary: 1) benchmarking the Virtual Singapore, Mobility 2030 initiatives, smart home solutions, and health hub programs, which Singapore is developing together with France's Dassault Systèmes and considering a joint R&D if necessary; 2) exploring active cooperation projects with the Singapore National Research Foundation (NRF), the Science and Technology Research Agency (A* STAR), and 14 test-beds; 3) establishing a partnership channel with BASH, Singapore's largest innovation entrepreneurial community, and SGInovate, which operates BASH; 4) promoting cooperation between Korean and Singapore Start-ups, which are involved in FinTech and Smart City businesses.

Keywords: 4th industrial revolution strategy, China, India, Singapore

Suggested Citation

Cho, Choong Jae and Song, Young Chul, The 4th Industrial Revolution Strategy and Cooperation in China, India and Singapore (April 3, 2018). KIEP Research Paper, World Economy Brief 18-14. Available at SSRN: https://ssrn.com/abstract=3181776 or http://dx.doi.org/10.2139/ssrn.3181776

Choong Jae Cho (Contact Author)

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Young Chul Song

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

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