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What makes a science and innovation cluster thrive, and how can regions scale their global impact? This seminar explores two of the world’s leading innovation clusters, Tokyo-Yokohama and China’s Greater Bay Area, ranked among the top clusters in WIPO’s Global Innovation Cluster Index. Drawing on interviews and new reports from the Swedish Foundation for International Cooperation in Research and Higher Education (STINT), Executive Director Dr. Andreas Göthenberg will share perspectives from STINT’s Science Intelligence work on global science and innovation, followed by presentations from Dr. Laura Barbieri and Dr. Erik Forsberg on the ecosystems, strengths, and development trajectories of these two regions.

Speakers:

Dr. Andreas Göthenberg

Dr. Andreas Göthenberg was appointed Executive Director of STINT as of September 1, 2009. And since 2024, he has been a Board Member at the Karolinska Institutet, Sweden. He received his M.Sc. and Ph.D. degrees from KTH Royal Institute of Technology, Stockholm, Sweden, in 1996 and 2003, respectively. 

From 2006 until 2009, he was a Science and Technology Attaché at the Embassy of Sweden in Tokyo, Japan. Before that, he worked as a Center Manager and Senior Researcher in China, setting up joint research and education centers for KTH Royal Institute of Technology at Zhejiang University and Fudan University.
 

Dr. Laura Barbieri

Dr. Laura Barbieri is a STINT Science Fellow in Japan and South Korea. Based in Tokyo, she is currently a Visiting Scholar at the National Graduate Institute for Policy Studies (GRIPS). Previously, she was a JSPS Postdoctoral Fellow at Osaka Metropolitan University, where she conducted malaria immunology research within the SATREPS JICA Project in collaboration with Kenyan and Japanese partners.

Dr. Barbieri holds a PhD in Experimental Immunology from the University of Padova (Italy), carried out with Karolinska Institutet (Sweden), and a Master’s degree in Medical Biotechnologies from Padova in collaboration with King’s College London (UK). She also worked as a Postdoctoral Researcher at the University of Cambridge (UK) and was a Visiting Researcher at the University of Tokyo (Japan).
 

Dr. Erik Forsberg

Dr. Erik Forsberg has been the STINT Representative in Asia since 2018. He has worked in China for more than 17 years, and was the Founding Vice Director of the Sino–Swedish Joint Research Center of Photonics as well as a Postdoctoral Fellow and an Associate Professor at Zhejiang University, China.

Dr. Forsberg was the Founding Graduate Dean at the Higher Colleges of Technology (United Arab Emirates) and a Visiting Scientist at Hokkaido University (Japan). Currently, he is an Adjunct Associate Professor at Zhejiang University and a Visiting Research Associate at the University of Malaya (Malaysia). In parallel with his academic work, he has been active in industry and entrepreneurship in China, co-founding several startups.

 

Directions and Parking > 

Okimoto Conference Room (E307)
Encina Hall, 3rd Floor
616 Jane Stanford Way, Stanford, CA 94305

Andreas Göthenberg, Executive Director, STINT
Laura Barbieri, Science Fellow in Japan and South Korea, STINT; Visiting Scholar, GRIPS
Erik Forsberg, Representative in China and ASEAN, STINT; Associate Professor, Zhejiang University
Seminars
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C.S. Park event card, Registration: The Rise and Future of the Korean Semiconductor Memory Industry: Perspectives and Insights from 1983 to 2026 and Beyond. Speaker: C.S. Park

The recent Nasdaq debut of a Korean semiconductor memory producer, SK hynix—raising $26.5 billion in the largest-ever listing by a foreign company—has garnered global recognition after temporarily overtaking Samsung Electronics as South Korea’s most valuable chipmaker. Together, the two companies account for more than half of KOSPI’s total market capitalization.

This talk will explore how South Korea built a globally competitive semiconductor memory industry, navigated intense industry competition and consolidation, survived historical boom-and-bust cycles, and emerged as a crucial player in the global artificial intelligence (AI) era. Specifically, the discussion will shed light on how South Korean firms overcame initial technological, financial, and human capital constraints to ultimately transform a historically low-margin commodity memory business into the highly profitable High Bandwidth Memory (HBM) products required for AI. Finally, the presentation will consider the future trajectory of Korea’s memory industry, including Moore’s Law, the growing semiconductor ecosystem, its U.S. footprint, the rise of Chinese memory makers, engineering talent, demand cyclicality, stock volatility, socio-economic impact, and geopolitics as the global AI industry continues to evolve.

Speaker:
C.S. Park is the former Chairman and CEO of Hynix Semiconductor (now SK hynix). In 1983, he joined Hyundai Electronics as a founding member, where he held several positions, including President of U.S. operations, Head of Semiconductor Marketing & Sales, and CEO. He was instrumental in restructuring and transforming Hyundai Electronics into Hynix Semiconductor, a leading memory company. He was also Maxtor’s CEO until its merger with Seagate, where he served as Lead Independent Director. In the past, he served on a number of boards, including DLA Piper, Enphase Energy, Computer Sciences Corp., Ballard Power, Brooks Automation, Smart Modular, STATS ChipPAC, and Silicon Valley Community Foundation. Currently, he serves as a Board Advisor for ScaleFlux, a memory and storage company scaling the AI data pipeline.

Directions and Parking > 

Philippines Conference Room (C330)
Encina Hall, 3rd Floor
616 Jane Stanford Way, Stanford, CA 94305

C.S. Park, former Chairman and CEO, Hynix Semiconductor (now SK hynix)
Seminars
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Registration: The Rise and Future of the Korean Semiconductor Memory Industry: Perspectives and Insights from 1983 to 2026 and Beyond. Photo: C.S. Park
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Image of Korean currency with banner "Shorenstein APARC Working Paper"

 

This paper examines the “Korea discount,” the chronic undervaluation of South Korean stocks compared to other developed markets. Despite Korea ranking 13th globally in market capitalization, its stock market has grown only 25% over the past decade, while the S&P 500 grew 186%. The author attributes this poor performance to weak corporate governance, particularly the dominance of family-controlled conglomerates (chaebols) that prioritize the interests of founding families over those of minority shareholders. An analysis of successful reforms in Japan, Taiwan, and the United States shows that the Korea discount could be successfully resolved by strengthening corporate disclosure requirements, resolving conflicts of interest among institutional investors, and making South Korea’s voluntary stewardship code more enforceable to encourage active shareholder engagement and improve market valuations. 

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Institutional Investor–Driven Governance Reform and the Resolution of the Korea Discount

Authors
You Jung Lee
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To watch the recording of the event, click here.

This event is co-hosted with the East Asia Institute (EAI) in Korea.

Event Time: November 18, 4:00 - 6:00 PM (PST) / November 19, 9:00 - 11:00 PM (Japan and Korea)
Please register for this event at EAI event page.

The ROK-U.S. and U.S.-Japan joint statements have increased expectations for a possible expansion of security and economic cooperation among South Korea, the U.S. and Japan. However, heightened U.S.-China strategic competition, as well as persistent challenges in the region such as historical tensions and the North Korea threat, have complicated the strategic calculus of U.S., South Korea and Japan. Under these circumstances, the South Korea, the U.S. and Japan must define their economic and security interests and seek ways to maintain friendly relations among the three countries. This seminar will discuss security and economic cooperation among Korea, the United States and Japan in the era of strategic competition between the U.S. and China.

Panel 1 on security:

Park Joon Woo, former Chairman of the Sejong Institute; former South Korean Ambassador to E.U. and to Singapore

Tomiko Ichikawa, Director General of the Japan Institute of International Affairs

Gen. Vincent Brooks, former USFK Commander

Moderated by Young Sun Ha, Chairman of East Asia Institute; Professor Emeritus, Seoul National University

Panel 2 on economic cooperation:

Young Ja Bae, Professor of Political Science and Diplomacy, Konkuk University, Korea

Andrew Grotto, Director of the Program on Geopolitics, Technology and Governance, FSI, Stanford University

Kimura Fukunari, Professor of Economics, Keio University, Japan

Moderated by Thomas Fingar, Shorenstein APARC Fellow, Stanford University

 

Via Zoom. Register at https://bit.ly/3w7Ak9g

Panel Discussions
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Cover of book "Drivers of Innovation"

Innovation and entrepreneurship rank highly on the strategic agenda of most countries today. As global economic competition intensifies, many national policymakers now recognize the central importance of entrepreneurship education and the building of financial institutions to promote long-term innovation, entrepreneurship, and economic growth. Drivers of Innovation brings together scholars from the United States and Asia to explore those education and finance policies that might be conducive to accelerating innovation and developing a more entrepreneurial workforce in East Asia. 

Some of the questions covered include: How do universities in China and Singapore experiment with new types of learning in their quest to promote innovation and entrepreneurship? Is there a need to transform the traditional university into an “entrepreneurial university”? What are the recent developments in and outstanding challenges to financing innovation in China and Japan? What is the government’s role in promoting innovative entrepreneurship under the shadow of big business in South Korea? What can we learn about the capacity of services to drive innovation-led growth in India? 

Drivers of Innovation will serve as a valuable reference for scholars and policymakers working to develop human capital for innovation in Asia.

Contents

  1. Educating Entrepreneurs and Financing Innovation in Asia 
    Fei Yan, Yong Suk Lee, Lin William Cong, Charles Eesley, and Charles Lee
  2. Fostering Entrepreneurship and Innovation: Education, Human Capital, and the Institutional Environment 
    Charles Eesley, Lijie Zhou, and You (Willow) Wu
  3. Entrepreneurial Scaling Strategy: Managerial and Policy Considerations 
    David H. Hsu
  4. Innovation Policy and Star Scientists in Japan 
    Tatsuo Sasaki, Hiromi S. Nagane, Yuta Fukudome, and Kanetaka Maki
  5. Financing Innovation in Japan: Challenges and Recent Progress 
    Takeo Hoshi and Kenji Kushida
  6. Promoting Entrepreneurship under the Shadow of Big Business in Korea: The Role of the Government 
    Hicheon Kim, Dohyeon Kim, and He Soung Ahn
  7. The Creativity and Labor Market Performance of Korean College Graduates: Implications for Human Capital Policy 
    Jin-Yeong Kim
  8. Financing Innovative Enterprises in China: A Public Policy Perspective 
    Lin William Cong, Charles M. C. Lee, Yuanyu Qu, and Tao She
  9. Forging Entrepreneurship in Asia: A Comparative Study of Tsinghua University and the National University of Singapore 
    Zhou Zhong, Fei Yan, and Chao Zhang
  10. Education and Human Capital for Innovation in India’s Service Sector 
    Rafiq Dossani
  11. In Need of a Big Bang: Toward a Merit-Based System for Government-Sponsored Research in India 
    Dinsha Mistree
  12. The Implications of AI for Business and Education, and Singapore’s Policy Response 
    Mohan Kankanhalli and Bernard Yeung

 

 

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Entrepreneurship, Education, and Finance in Asia

Authors
Yong Suk Lee
Book Publisher
Shorenstein APARC
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Book cover showing a robotic hand holding an older human hand.

Demographic transition, along with the economic and geopolitical re-emergence of Asia, are two of the largest forces shaping the twenty-first century, but little is known about the implications for innovation. The countries of East Asia have some of the oldest age structures on the planet: between now and 2050, the population that is age 65 and older will increase to more than one in four Chinese, and to more than one in three Japanese and Koreans. Other economies with younger populations, like India, face the challenge of fully harnessing the “demographic dividend” from large cohorts in the working ages.

This book delves into how such demographic changes shape the supply of innovation and the demand for specific kinds of innovation in the Asia-Pacific. Social scientists from Asia and the United States offer multidisciplinary perspectives from economics, demography, political science, sociology, and public policy; topics range from the macroeconomic effects of population age structure, to the microeconomics of technology and the labor force, to the broader implications for human well-being. Contributors analyze how demography shapes productivity and the labor supply of older workers, as well as explore the aging population as consumers of technologies and drivers of innovations to meet their own needs, as well as the political economy of spatial development, agglomeration economies, urban-rural contrasts, and differential geographies of aging.

Desk, examination, or review copies can be requested through Stanford University Press.

Table of contents and chapter 1, introduction
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Books
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Authors
Gi-Wook Shin
Book Publisher
Shorenstein APARC
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Cover of the book 'Shifting Gears in Innovation Policy' on the background of an embossed map of Asia.

In the six Asian countries focused on in this book—China, India, Japan, Singapore, South Korea, and Taiwan—high economic growth has been achieved in many industrial sectors, the catch-up phase of growth has ended or is about to end, and technological frontiers have been reached in many industries. These countries can no longer rely on importing or imitating new technology from abroad and expanding imports, and instead have to develop their own innovations to maintain growth. The policy tools they often used to advance "innovation," for the most traditional industrial policies of identifying promising industries and promoting them, will no longer be effective. And indeed, governments in Asia have recently put forward new policies, such as China's push for mass entrepreneurship and innovation.

Domestic conditions in Asian economies have also started to change. Many countries are facing rapidly aging populations and low birth rates: Japan’s population, declining for several years, is the first population decline not caused by war or disease in the modern world; South Korea’s labor force started to shrink in 2018 as well; China’s huge population will start to age, even as a large part of the population remains poor.

Facing these challenges, today Asia is at a turning point. East Asia as a whole has greater real economic output than North America, South and Southeast Asia possess enormous economic potential due to size and resources, and countries within Asia are becoming more connected in both trade and diplomacy. It is at this juncture that the authors of Shifting Gears examine and reassess Asia’s innovation and focus on national innovation strategies and regional cluster policies that can promote entrepreneurship and innovation in the larger Asia-Pacific. Chapters explore how institutions and policies affect incentives for innovation and entrepreneurship; whether Asia's innovation systems are substantially different from those of other countries, and in which ways, and whether there are any promising strategies for promoting innovation.

Desk, examination, or review copies can be requested through Stanford University Press.

Front Matter and Introduction
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Strategies from Asia

Authors
Yong Suk Lee
Gi-Wook Shin
Book Publisher
Shorenstein APARC
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Two women working at a bottling plant in Kangso, P'yongan-namdo, North Korea. Photo Credit: NViktor via Flickr/Creative Commons

“Prices for some products [in North Korea] have fluctuated slightly, but shortages are not reported, and consumption still continues, " writes Andray Abrahamian for 38 North following a visit to North Korea for the 8th International Rason Trade Fair. "Still, sanctions have caused enough problems that expressions of hope for the success of this year’s summit diplomacy are universal among North Koreans in Rason and elsewhere.”
 
 
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Two women working at a bottling plant in Kangso, P'yongan-namdo, North Korea
Two women working at a bottling plant in Kangso, P'yongan-namdo, North Korea | NViktor, Flickr/Creative Commons
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616 Serra StreetEncina Hall E301Stanford, CA94305-6055
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hak_kyu_sohn Ph.D.

Hak-kyu Sohn joins the Shorenstein Asia-Pacific Research Center as a Visiting Scholar during the 2017-18 academic year.

Sohn is founder and chairman of East Asia Future Foundation; former chairman of the Democratic Party; and former governor of Gyeonggi Province, in South Korea. His research interest is in how South Korea can be prepared for changes in international relations as well as for the fourth industrial revolution.

Sohn received a DPhil in Politics from University of Oxford, UK, and a BA in Political Science from Seoul National University.

Visiting Scholar
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President Trump hosted Chinese President Xi Jinping last week at Mar-a-Lago for their first meeting which set out to address economic, trade and security challenges shared between the two countries. Shorenstein Asia-Pacific Research Center (APARC) experts offered analysis of the summit to various media outlets.

In advance of the summit, Donald K. Emmerson, an FSI senior fellow emeritus and director of the Southeast Asia Program, wrote a commentary piece urging the two leaders to prioritize the territorial disputes in the South China Sea in their discussions. He also suggested they consider the idea of additional “cooperative missions” among China, the United States and other countries in that maritime area.

“A consensus to discuss the idea at that summit may be unreachable,” Emmerson recognized in The Diplomat Magazine. “But merely proposing it should trigger some reactions, pro or con. The airing of the idea would at least incentivize attention to the need for joint activities based on international law and discourage complacency in the face of unilateral coercion in violation of international law.”

Kathleen Stephens, the William J. Perry Fellow in Shorenstein APARC’s Korea Program, spoke to the Boston Herald about U.S. policy toward North Korea and a potential role for China in pressuring North Korea to hold talks about denuclearization. She addressed the purported reports that the National Security Council is considering as options placing nuclear weapons in South Korea and forcibly removing North Korean leader Kim Jong-un from power.

“The two options have been on the long list of possible options for a long time and they have generally been found to have far too many downsides,” Stephens said in the interview.

Writing for Tokyo Business TodayDaniel Sneider, the associate director for research at Shorenstein APARC, offered an assessment of the summit. He argued that two events - the U.S. airstrike on an airbase in Syria following the regime's chemical weapons attack and the leaked reports about tensions between White House staff - shifted the summit agenda and sidelined, at least for now, talk of a trade war between China and the United States.

“Instead of a bang, the Mar-a-Lago summit ended with a whimper,” Sneider wrote in the analysis piece (available in English and Japanese). “On the economy, the summit conversation was remarkably business-as-usual, with President Trump calling for China to ‘level the playing field’ and a vague commitment to speed up the pace of trade talks. When it came to North Korea…the two leaders reiterated long-standing goals of denuclearization but ‘there was no kind of a package arrangement discussed to resolve this.”

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U.S. Secretary of State Rex Tillerson talks with Chinese President Xi Jinping upon his arrival on April 6, 2017, to West Palm Beach, Florida. | Getty Images/Joe Raedle
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