Science Technology and Innovation Policy Institute (STIPI)/KMUTT organized the 2nd STIPI Forum at the Knowledge Exchange (KX) Building, KMUTT, Bangkok, Thailand. On 24 August 2018, Prof. Chaisung Lim from Miller School of MOT, Konkuk University, Korea spoke on “The dilemma of the newly industrialized country firms in responding to the industry 4.0 challenges: learning from the case of Korean firms”. There were 36 participants from public and private sectors joining this forum.
Due to the arrival of Industry 4.0 technologies, manufacturing firms are forced to change their business models, create their new smart products & services offered to customers and also embrace smart production processes into their factories. However, even Korean firms find it difficult to respond to these changes. This is because a new value creation required a more horizontally integrated new organizational structure. In a platform business model, firms need not only to put a lot of effort and resource to work within their traditional supply chain, but also to connect and collaborate with firms outside their sectors.