• Journal of the Economic Geographical Society of Korea
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• v.26 no.3
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• pp.169-189
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• 2023

The study aims to synthesize the discussion of the innovation district and suggest an alternative to the governance system of the innovation district. Cluster policies that focus on industrial specialization, networking, value chains, and industrial ecosystems have shown some problems and limits in advanced industrial economies. The innovation district, suitable for the era of urban innovation, convergence of industry, housing, leisure, and related variety, emphasizes cooperation through the convergence of various innovations, workshops and industries, and communities. It is important to build a quintuple helix based on cooperative governance through public-private partnerships, integrate the physical and cultural atmosphere, and service industries that strengthen the place prestige. Beyond the industrial aspect, innovation districts can facilitate changes in urban amenities and lifestyles and creative atmosphere, such as diversity, lifestyle, charms, and openness, and promote social vitality and economic interactions. The governance of innovative districts can promote inter-organizational exchanges, and combinations. When knowledge is created through exchanges between companies, it also affects changes in the governance system, evolving from a rigid and centralized system to an open, dynamic, and organic system. Through the innovation policy, the existing Central Business Districts (CBD) can be able to be transformed into a Central Lifestyle Districts (CLD).