Basic statistics of Korea, 2012 -- Executive summary -- Main findings -- Key recommendations -- Assessment and recommendations -- Korea’s economic expansion and macroeconomic policies to sustain it -- Macroeconomic policy recommendations -- A new economic paradigm for Korea: Fostering a creative economy -- Key policy recommendations to foster a creative economy --Promoting social cohesion and well-being -- Key policy recommendations to promote social cohesion and well-being --Bibliography -- Annex A1. The Three-year Plan for Economic Innovation -- Annex A2. Economic co-operation with North Korea -- Annex A3. Progress in structural reforms Chapter 1. Fostering a creative economy to drive Korean growth 67 -An overview of Korea’s innovation system 71 -Framework conditions to promote a creative economy 76 -Promoting venture business and start-ups 80 -Making the SME sector more dynamic 85 --Summary of recommendations to foster a creative economy --Bibliography --Chapter 2. Reducing income inequality and poverty and promoting social mobility --Policies to reduce inequality and promote social mobility --Reducing the high rate of poverty among the elderly --Household debt: Implications for social cohesion --Summary of recommendations to promote social cohesion --Bibliography -- Acronyms and abbreviations used in this survey