||An Evaluation of Koreas innovative capacity and its implications
The existing concept of innovation has placed a greater value on technological innovation, where the purpose and results of innovation focuses primarily on new technology acquisition and technological development. The single-line innovation model which has been accepted broadly does not provide a satisfactory interpretation of the rapid economic changes and innovative process. Since business activities will likely grow more complex,the single-line model will not be capable of capturing the real-time information flows of value added, thereby lose its explaining power on the real economy. As an alternative to the single-line model, the introduction of a multiple innovation model having a systematic approach should be considered.