The Development Experience of the Korean Machinery Industry and its Implications for Developing Countries

The machinery industry is a very difficult sector to develop in the short term. It is also not easy to drastically shorten the developmental period. Therefore, it is necessary for developing countries to thoroughly review Korea’s policy trends when designing machinery industry policies. This paper outlines various factors and the implications they carry, which major developing countries such as Indonesia, Malaysia and Vietnam should consider when establishing detailed policies to nurture their machinery industries