The Effect of Open Innovation on Technology Value and Technology Transfer: A Comparative Analysis of the Automotive, Robotics, and Aviation Industries of Korea

Abstract

With the advent of the Fourth Industrial Revolution, the Korean industrial environment has been rapidly changing. As a result, several industries are facing different innovation conditions, including: the automotive industry, which is a traditional manufacturing industry in Korea; the aerospace industry, which has been vertically integrated, and has been led by a single large company-Korea Aerospace Industries-since Korea went through an economic crisis in the 1990s; and the robotics industry, which is currently emerging. This study used parameters related to patents originating from the automobile, robotics, and aerospace fields. The patents subjected to analysis were those registered in Korea from 2001 to 2014, and included those that were applied for, jointly applied for, or registered by Korean companies. This study analyzed the differences caused by the effect of open innovation in the three industries. According to our results, first, the three industries experienced different effects of open innovation. Second, when large companies controlled a given industry, open innovation either worked a little or did not work at all. According to this research result, the Korean robotics industry, which has a weak dominance of large companies, experienced a strong effect of open innovation, in that joint patent applications led to economic gains from the patents and an increase in technology transfer and technology value. The aerospace industry of Korea, which has the highest dominance of large companies, experienced a slight effect of open innovation, as the effect of joint patent application only improved the technology value. Finally, the automotive industry of Korea had an intermediate level of open innovation, between the aerospace and robotics sectors.

Impact of Construction IT Technology Convergence Innovation on Business Performance

“…The Korean industrial environment has experienced significant change in its industrial framework through the Fourth industrial revolution [16]. When a company wants to obtain significant business returns from an innovation, IT strategy has been shown to be an important factor in making a decision for integration and collaboration [17]. Our study is significant in that it includes not only the financial performance brought about by IT convergence innovations, which has been discussed in the previous studies, but also considers the main resulting factors of the production process and customer satisfaction with the products and services the target companies provide [11].…”

Green Governance and International Business Strategies of Emerging Economies’ Multinational Enterprises: A Multiple-Case Study of Chinese Firms in Pollution-Intensive Industries

“…Most EMNEs have a deficit in technological capabilities. It is argued that open innovation can be an effective means to dismantle the knowledge boundary and enhance an organization's technological strength [32,161]. Third, in addition to the firm's role, we highlight the decisive role played by government agencies.…”

“…Thus, EMNEs need strong technological capabilities to move beyond organizational limits and develop new products and novel solutions to better satisfy market needs [160]. Strong technological capability can enable firms to adapt their operations to new operating conditions, accelerate new product development, and create open innovation to dismantle knowledge boundaries and break organizational growth limits [28,32,102,161]. Moreover, strong technological capabilities coupled with a robust product design process lead to fast product development and new high-quality products [160,162], which propel firms ahead of competitors [163].…”

The Effect of Innovation Capability on Business Performance: A Focus on IT and Business Service Companies

“…In addition, in the process of actively responding to the market and developing new technologies, technological innovation will succeed in terms of the sustainable management of organizations [18]. Technological innovation is therefore a major driving force for improving the competitiveness of an organization and the productivity of the industry as a whole, leading to the economic development of the entire country and a more innovative society [19]. Therefore, it is necessary to have the capability to systematically manage this process to ensure successful innovation [19].…”

“…Technological innovation is therefore a major driving force for improving the competitiveness of an organization and the productivity of the industry as a whole, leading to the economic development of the entire country and a more innovative society [19]. Therefore, it is necessary to have the capability to systematically manage this process to ensure successful innovation [19]. Technological innovation was originally defined as a series of phenomena that lead to the production and sale of new products or services through a novel combination of the production process, the market, materials, and organization [12].…”