The Fourth Industrial Revolution in Major Countries and Its Implications of Korea: U.S., Germany and Japan Cases

5 Pages Posted: 5 Jan 2019

See all articles by Gyupan Kim

Gyupan Kim

Korea Institute for International Economic Policy

Hyong-Kun Lee

Korea Institute for International Economic Policy

Jonghyuk Kim

Korea Institute for International Economic Policy

Hyuk Ju Kwon

Korea Institute for International Economic Policy

Date Written: July 23, 2018

Abstract

In the 1990s the world witnessed the Information Technology (IT) revolution, which entirely changed the paradigm of the global economy. IT has since continued to develop and mobile platforms have become one of the most important markets, represented by the rise in e-commerce and the sharing economy. At the 2016 World Economic Forum, Klaus Schwab emphasized the rapid pace of technology advancement and used the phrase "Fourth Industrial Revolution" to illustrate how such advanced technologies are being applied to change the business paradigm once again. In the fourth industrial revolution, technological innovations are applied to manufacturing systems to enable the mass customization of various products. Governments, especially in advanced economies, are striving to adjust to this change in the paradigm and environment of business. This brief focuses on policies implemented in response to the fourth industrial revolution unfolding within major advanced economies such as the U.S., Germany and Japan, and their implications for the Korean government.

Keywords: Fourth Industrial Revolution, Korea, Germany, Japan

Suggested Citation

Kim, Gyupan and Lee, Hyong-Kun and Kim, Jonghyuk and Kwon, Hyuk Ju, The Fourth Industrial Revolution in Major Countries and Its Implications of Korea: U.S., Germany and Japan Cases (July 23, 2018). KIEP Research Paper, World Economy Brief 18-20. Available at SSRN: https://ssrn.com/abstract=3304923 or http://dx.doi.org/10.2139/ssrn.3304923

Gyupan Kim (Contact Author)

Korea Institute for International Economic Policy ( email )

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

Hyong-Kun Lee

Korea Institute for International Economic Policy ( email )

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

Jonghyuk Kim

Korea Institute for International Economic Policy ( email )

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

Hyuk Ju Kwon

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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