Korea: do IT patents influence the growth of the GDP? A comparative study.

Abstract

The unprecedented economic growth accompanied by a very important social development in Asian countries has captured the world's attention in recent years; therefore, the objective of this paper is to evaluate how the evolution of technology has influenced economic growth in particularly in South Korea. The methodology used is qualitative and empirical, analyzing different technological, economic and developmental variables. It can be observed that the variables that were studied in these countries are: patent applications,Gross Domestic Product (GDP), financial markets, industry market, total employment and export in goods.

The main conclusion is that there is a beneficial influence of technology on the economy of the Asian country studied, since it has fostered innovation and development.