The Korea Local Administration Review

Smart specialization designed to facilitate regional innovation has been implemented in South Korea since 2020. However, there are insufficient studies dealing with technological attributes that can affect smart specialization. The present study aims to examine whether technological relatedness and complexity influence smart specialization by using a panel data set comprised of 16 metropolitan regions for the five-year periods between 2007 and 2017. The results obtained from a general linear model indicate that average technological relatedness and technological complexity(i.e., promising and stable technologies) positively affect smart specialization. In addition, the amount of R&D investment is positively associated with smart specialization. These result show that technological attributes and the extent of technological development in sectors with comparative advantages result in geographical disparities in regional economic development. Based on results, this study suggests various policy implications for practical implementation of smart specialization.