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Impact of the Smart City Industry on the Korean National Economy: Input-Output Analysis

Title
Impact of the Smart City Industry on the Korean National Economy: Input-Output Analysis
Author
최재영
Keywords
input-output analysis; smart city; economic impact; technology convergence; Internet of Things
Issue Date
2016-07
Publisher
MDPI AG
Citation
SUSTAINABILITY (2016), v. 8, NO. 7, Page. 649-667
Abstract
The characteristics of the smart city industry and its effects on the national economy of Korea are investigated using input-output analysis. The definition and industrial classification of a smart city are established using the Delphi technique for experts in various fields, from information and communication technologies (ICT) to governmental policies for urban matters. The results of the analysis, including the production, value added and employment induction effects, show that the smart city industry has intermediate characteristics between ICT and urban construction industries, indicating that acquisition of the competitive edge of both the ICT and construction industries is the key to the success of the smart city industry. The crucial industries related to the smart city industry are identified based on an analysis of the forward and backward linkage effects, the results of which suggest the importance of the relevant service industries. The economic effects on the national economy induced by the governmental program for smart city demonstration are estimated using input-output analysis results. Overall, the results of this study indicate that facilitation of the smart city industry plays a key role not only in the sustainable city, but also in the growth of the national economy.
URI
http://www.mdpi.com/2071-1050/8/7/649http://repository.hanyang.ac.kr/handle/20.500.11754/74469
ISSN
2071-1050
DOI
10.3390/su8070649
Appears in Collections:
GRADUATE SCHOOL OF TECHNOLOGY & INNOVATION MANAGEMENT[S](기술경영전문대학원) > TECHNOLOGY MANAGEMENT(기술경영학과) > Articles
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