Innovation Policy Learning from Korea: The Case of Monitoring and Evaluation

This case study, part of a larger project aimed at promoting better innovation policy design in East Asian countries, highlights Korea's journey from a developing nation to a global innovation leader. The report emphasizes the importance of M&E in modern management systems, particularly in the field of innovation policy, where it enables policy learning and adaptation in the face of uncertain innovation processes and outcomes. It showcases how Korea's M&E system has continuously evolved to meet the changing needs of business innovation in the country, offering practical examples for developing nations on addressing M&E challenges, especially in governance, capacity, and resources. The study also underscores the role of legal frameworks, specialized research institutions, and budget allocation in supporting effective M&E practices, demonstrating that successful M&E is not merely a technical matter but also a governance issue.