A case study on the improvement of institution of “High-Risk High-Return R&D” in Korea

Despite the increase of government spending on R&D in South Korea, there have been limits in enhancing the challenging trait and creativity of research outcomes. A new approach to the current mode of R&D is considered necessary to tackle this problem. In 2015, South Korea operated fifteen programs, namely “High-risk High-return R&D,” from seven government ministries. The purpose of this study is to examine the actual conditions for adoption and to further promote early establishment and wide implementation of the new “High-risk High-return policy” in National R&D, and to suggest ways to improve it.