• Journal of the Korean Geographical Society
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• v.38 no.2
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• pp.237-256
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• 2003

The main aim of this paper is to provide a plan for building an effective and competitive innovation system of Daeduck Valley in Korea through analysing the process of knowledge production and commercialisation of venture firms in the perspective of industry-(university) research networks. Since 1997, with the willingness of the government aimed at building' second Sillicon Valley', an ostensible innovation system cantered around the existing science technology town has been able to be built in Daeduck Valley. Nonetheless, some fundamental problems with the knowledge production and commercialisation of venture firms were appeared as the results of this study. It is led tv not only the lack of network agents and institutes that are able to facilitate and coordinate the networks of economic actors comprised of the innovation system, but also the impertinent roles of economic actors. In particular, these problems were differentiated in accordance with the growth stage of venture firms and the processes of knowledge production. Therefore, several policy implications for building innovation system are suggested in the perspective of the complement of existing innovation system of Daeduck, rather than constructing a new innovation system. At the same time, they are provided in accordance with different growth stages and knowledge production processes.