Innovation cluster and its development strategy

This research focused on the development Strategy of innovation clusters in Gyeonggi Province. In Gyeonggi Province, there are three major innovation clusters; Gwanggyo Technovalley, Pangyo Technovalley and Ansan Science Valley. In Gyeonggi province, the innovation cluster policy was launched ambitiously. However, there are many issues to be solved for them to be the Global R&D Hub. In this reason, the study was performed based on both theoretical study and related qualitative study approaches. Particularly, scenario planning method was used for the strategy formulation of the innovation clusters in Gyeonggi Province. The major determinants for the success of the formation of the innovation clusters in Gyeonggi Province can be summarized as follows; the establishment of S&T based host institution, the gradual enlargement of the role of host institution and the balancing the operational strategy on Hardware and Software of innovation clusters. In terms of the needs of times, this study regarding the strategy for the formation of the innovation clusters is anticipated to be a good reference for the R&D organizations and technology cluster participants in coming years.