This study reviews the new Perspectives of science and technology Policy based on "the innovation system ap-proach" . It examines the theories of innovation and the economic rationale of government intervention of the in-novation system approach and compares them with those of traditional nee-classical approach. It also examines the basic theme of science and technology Policy of "the innovation system approach" It argues that the enhancement of innovating capability, the transformation of innovation system coping with changing technological and econom-ic environments, and the policy learning of the government and innovators are very important and peculiar sub-jects of the science and technology Policy based on "the innovation system approach".ovation system approach".uot;.

그 동안 R&D와 관련된 많은 연구는 다양한 성장모형을 이용해 경제성장과 연구개발 투자사이의 관계를 보이는데 중점을 두어왔으나, 디지털 경제에서의 지식 혁신에 의한 R&D활동의 성장패턴을 보이는 연구는 이루어지지 않고 있다. 따라서 본 연구에서는 W기업의 생산과정에서 R&D활동에 따른 비중의 변화가 생산성을 증가시키는 성장의 패턴을 다양하게 할 수 있음을 보이고자 한다.

Korean government has been putting efforts to promote development of technologies by government sponsored labs and to transfer, diffuse, and commercialize these technologies in private sector since mid 1980s. In spite of these efforts, utilization of government-sponsored technology remains in the very low level. According to the survey conducted by Korea Intellectual and Patent Office (1999), the ratio of unused industrial property rights including patents was above 70% of total industrial property rights. Survey on the information and telecommunication industry done by the Institute of Information Technology Assessment (IITA) in 1999 shows that the utilization ratio of government-sponsored technologies is about 55.8%. This is especially true where government is not the primary or end-user of technologies. The purposes of this paper are to (1) identify a process model of technology commercialization, (2) develop the related variables of each step in the six-step continuous process model of government-sponsored technology commercialization, (3) empirically investigate the data gathered through questionnaire survey, and (4) suggest policy alternatives for promoting technology commercialization in Information and Telecommunication industries.

There have been many solutions to overcome theoretical problems of the Discounted Cash Flow Methods, especially on the valuation of technology. Real Options are thought as a solution. There, however, are another problems in applying Real Options for the valuation of technology; diversity and complexity of models. This Paper recommends 5 models for the valuation of technology, especially for practitioners.

Risk, or exposure to uncertainty, is an inherent of risk-adjusted discount rate. It is therefore important part factor in the determination of risk-adjusted discount rate. This paper suggests the method to quantify risk and explains the process how to transfer quantified risk into incremental discount rate. The estimates of underlying risks will help determine the size of appropriate risk-adjusted discount rate with logical and scientific way when the technology valuation is made.

This paper is based on a belief that, it is the simplest and best way measuring intangibles and knowledge assets on a monetary base, although there are many efforts to measure it. We analysis and compare with accounting, appraisal and valuation standards on Korean, USA and global level each. We conclude that valuation is appropriate for intangibles and knowledge assets, but we should check the standards of valuation on a social base in Korea.

The national nuclear R&D projects have been implemented for the purpose of supply of nuclear power which was proved to be safety and stability. Evaluating the national nuclear R&D projects has critical importance in nu-clear energy management aspect. This paper employs multi-attribute utility analysis as a basis for obtaining an evaluation index to assess the national nuclear R&D projects using a specific case study of Korea. To structure and quantify basic values for the evaluation, we elicited important attributes, then refined and structured them into a hierarchy. A multi-attribute index is constructed as a multi-attribute utility function, based on value judgments provided by a group of technical experts, policy makers, and faculties. As a result, the objective of attainment of a proposed object is given the highest priority, followed by appropriateness of project and research strategy, utilization of research output, within attribute ranges defined for the attributes. We found that the work and results of this study can provide valuable insights and decision opportunities for virtually all major decision making in evaluation of the national nuclear R&D projects in Korea.

This study reviews and compares the selection procedures for science and technology topics to predict mid- and long-term trends in science and technology development in Korea, Japan, and the United Kingdom. It then identifies science and technology topics and future technologies for the third science and technology foresight of Korea. In Japan and the United Kingdom, non-technological topics that reflect socioeconomic needs are also select-ed along with technological ones. This study provides the following policy implications to enhance reliability and effectiveness of the third science and technology foresight of Korea. First, selection of science and technology topics should coincide with the national goal, taking into account development trends in science and technology and socioeconomic needs. Second, the current prediction methodologies such as "delphi" do not fully consider future uncertainties in science and technology development. A scenario method is, for example, needed to present coherent pictures of alternative futures. finally, the third technology foresight should select and include topics that reflect domestic conditions and global trend in technological progress. This study suggests 117 topics for the third science and technology foresight.foresight.