• STI Policy Review
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• v.2 no.3
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• pp.35-44
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• 2011

Korea has rapidly increased R&D investment over the last few decades and the intensity of R&D investment is among the highest in the world; however, there are serious concerns about R&D performance and R&D efficiency. This study is to improve the economic assessment methodology regarding a feasibility study for national R&D programs that are thought to be one of the most prominent ways to enhance R&D efficiency. In order to improve the methodology of economic assessment, a few of important factors such as technical or market uncertainty, spillover effect, and R&D contribution ratio should be covered in the model. The focus of this article is technological and market uncertainty that has a close relation with strategic flexibility and utilization potential to increase the value of R&D programs. To improve the current linear and definitive R&D process, a new framework with strategic flexibility is suggested, in which the result of economic assessment that considers technological and market uncertainty is reflected in planning. That kind of feedback process is expected to enhance the value of the program/project as well as R&D efficiency.

• Journal of the Korean Institute of Gas
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• v.4 no.4 s.12
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• pp.34-41
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• 2000

The purpose of this paper is to assess the R&D investment of Korea Gas Corporation (Kogas) by combining several measures including R&D needs, technology spillover effects, and technology stock at the corporate level. This study has revealed that Kogas has concentrated its R&D resources on the operation and maintenance of gas supply facilities, and technology groups, which have higher fulfillment of R&D needs and technology spillover effects, have been on the relatively greater level of technology stocks.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2000.11a
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• pp.259-277
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• 2000

In this paper, we suggest theoretical grounds on the problem of R&D portfolio with different option premiums utilizing the Real Options Model, which has received intensified attention as the method of assessment of R&D project with high risk. Even though there have been many studies focused on the evaluation of option value of single project from technology valuation's perspective. there are few study on the portfolio of multiple technology investment by option value using. This paper bears practical importance by showing simple examples with the option value of investment alternatives and the valuation of related risk, the construction of optimum portfolio in technology investment alternatives.

• STI Policy Review
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• v.9 no.1
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• pp.1-29
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• 2018

With the constant growth of R&D investment, it has been increasingly necessary to evaluate the effectiveness of R&D performance and there is a high emphasis on ensuring the accountability and effectiveness of R&D programs. The evaluation of performance of a firm is especially necessary in times of economic downturn to justify R&D investment. However, there is a marked shortage of clear guidelines as to where and how particular metrics are used to measure the output and outcome of R&D activity in firms. Many firms have difficulties in selecting appropriate indicators for their R&D and financial performances. To fill this gap, this article discusses and presents the findings from the literature in such a way that they become useful for researchers or managers who are in charge of measuring the R&D and business performances arising from innovation activities. Finally, based on the findings about metrics of R&D performance, this article proposes the hypothetical framework to investigate the relationship between technology forecasting, strategic technology planning, and business performance. The framework of this article will assist policy makers, universities, research institutes/national laboratories, and companies to enhance their decision making process in technology development.

• Journal of Technology Innovation
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• v.22 no.4
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• pp.165-198
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• 2014

The national R&D performance evaluation system in Korea has been influenced by 'New Public Management' since the 1980s. The 1997 IMF crisis in Korea has necessitated the overhaul of S&T policy strategies in Korea. Reflecting this, effective distribution and utilization of S&T investment and resources has emerged as a crucial policy agenda, while expansionary investment in S&T maintained. During the period of 1999-2005, the R&D evaluation has been more focused on the input side and execution processes than on the results of R&D. Evaluation results were to be reflected in the budgeting of national R&D, but there were some disputes over how to make use of evaluation results between the budgeting ministry and the evaluation agency partly because they were two separate entities. After the advent of the new government(1998-2003) which advocated 'science and technology-oriented society', the national R&D evaluation system has evolved through a new legislation, the Performance Assessment Act, and the establishment of Science & Technology Innovation Agency to build up the unique framework for national R&D evaluation differentiated from the assessment system for general government investment programs. Most recently, due to 'Comprehensive Improvement Plan' in 2013, various components of national R&D evaluation seem to move on a new evolutionary track. For example, different types of evaluation are being developed and tried in accordance with differing evaluation goals, and the individual ministries and the research councils has got more enhanced autonomy and responsibility regarding R&D evaluation. So-called 'tailored' evaluation methods, taking into consideration the characteristics of programs and institutes / organizations to be evaluated, are now being tried. Competences of evaluation experts and agencies has also to be improved and strengthened.

• Proceedings of the Korea Technology Innovation Society Conference
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• 2005.05a
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• pp.33-45
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• 2005

• International conference on construction engineering and project management
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• 2013.01a
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• pp.608-615
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• 2013

The major countries including Korea extend the national investment on R&D and implement the business performance diffusion policy as the knowledge based competition age arrives recently. The necessity for risk management and systematic management system for R&D achievement have been appeared to prevent the failure as the R&D scale becomes larger as it was said. For this matter, the organization such as NASA and DoD in USA defines the Technology Readiness Level (TRL) as a quantitative accomplishment management index and utilize the Technology Readiness Assessment (TRA) system as a criterion. Such tool is evaluated as very effective in the R&D project purposed the practicalization. It is expected that the disadvantage of evaluation system which is oriented to the academic accomplishment in its contents of current research and to contribute greatly to the practicalization of outcomes when such technology readiness level concept is applied to Korean national construction and transportation R&D project. Accordingly, this study analyzed the concept of TRL·TRA, the characteristics and current evaluation management system of Korean national construction and transportation R&D project and suggested the construction and transportation R&D project TRL·TRA performance model to accomplish the practicalization purpose.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.674-679
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• 2006

The public research and development (R&D) funds for construction engineering is one of the key elements for the advancement of construction industry. Korean Ministry of Construction and Transportation is currently planning to produce approximately US$ 500 millions of research funds every year in Korea from year 2007. Along with the prospect for increasing R&D investment, there is of increasing pressures on the development of quantitative methodologies for assessing the performance of construction R&D results. Although there have been some general R&D project evaluation methods, they are not readily used for construction R&D research assessment due to the distinct characteristics of construction R&D. This paper presents a simple methodology that can make quantitative assessments of construction R&D performances. The proposed methodology is expected to assist government officials in objectively evaluating construction R&D performances and identifying the areas that require more R&D investment.

• Journal of Information Technology Applications and Management
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• v.21 no.4_spc
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• pp.345-359
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• 2014

Technological, policy and economic factors are both important variables in maximizing the results of a national R&D program and key indicators in evaluating an R&D program's eligibility for financial support. Economic analysis, in particular, is used when selecting R&D programs, setting priorities, and estimating economic effects. This paper examines a series of methodological issues related to the economic analysis of national R&D programs within the framework of the current preliminary feasibility evaluation system, and proposes alternative approaches to each of the issues discussed. The issues include the definition of R&D valuation and establishment of valuation factors; estimation of sales attributable to R&D investment; assessment of the total economic value of R&D as intellectual assets; estimation of R&D benefits and assumption of related to sales; and the application of discount rates based on the weighted average cost of capital. Finally, this study presents directions for future research on analytical procedures and methods of improving the reliability of the results of economic analysis within the national technology planning system.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.31 no.4
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• pp.396-416
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• 2021

Objectives: This study was conducted to analyze the trends of government R&D (R&D) projects related to laboratory safety over the past 20 years. Methods: We collected publications from various databases(DBs) with words such as laboratory(ies), lab(s), researcher(s), laboratory worker(s), safety, environment, hazard(s), risk(s), and so on. Selected publications were analyzed by the research funds and the number of projects according to the investment subject and research characteristics. Results: About 93% of the total R&D budget went to government policy projects, not scientific research. Second, from the perspective of 'safety management activities', most of the research is related to management and inspection at the organizational level. Issues that need to be discussed at the national level like policy governance are not included. Third, focusing on the 'safety management cycle', there were few studies related to 'prediction' or 'post-response'. Fourth, when an analysis framework combining the perspectives of 'safety management activities' and 'safety management cycle' is applied, most of the budget is spent on infrastructure such as digital management systems, whereas basic knowledge for prevention and production of evidence was very few. Conclusions: In order to prevent policy planning without policy evaluation, implementation without strategy, and evaluation without evidence, it is necessary to expand investment in empirical research on risks, research on the effectiveness of current application methods, and research on theory development. The government budget for laboratory safety-related projects should be managed separately from the R&D budget for scientific research. Although less than 5% of the budget allocated to scientific research is the total budget, an optical illusion occurs because both the project budget and the scientific research budget are counted as R&D budgets.