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Evaluation of Gwanggyo Technovalley in Korea and policy implication for the regional innovation

The effectiveness of an “Innovation Cluster” approach is well acknowledged in the science and technology policy. There are many successful cases that the innovation clusters are leading the national or regional competitiveness. However, it is also true that there are many cases, which do not produce the expected innovation. In this sense, a regional case of Korea was reviewed with other two international cases (Oulu Technopolis and Research Triangle Park). As the leading innovation cluster of a region (Gyeonggi Province, Korea), Gwanggyo Technovalley (GTV) hosts research institutes, universities and many small and medium companies. Its hardware development was completed in 2008 but there are many problems such as networking among innovation actors, marketing of GTV and so on. In addition, there is no managerial body and a master plan and therefore has some difficulties to market it and coordinate activities among the tenant companies and research institutes within the complex. These problems occurred because of inappropriate policy making and regional political conditions, which request fast result from the innovation policy. The GTV case may not be generalized, however it shows one of the typical problems of regional government initiated innovation cluster. It is suggested that the policy makers of innovation clusters in the region should pay more attention to long-term development plan and installing right management body in the innovation cluster.