The service sector has been highlighted as a new growth engine of today’s economy. This sector will continue to expand as manufacturing-related services grow and demands of services enhancing customer welfare increase. Now is the time to initiate discussions on how to upgrade the quality of service sector more effectively so that its quantitative expansion can be stabilized for future growth.

The Ministry of Strategy and Finance (MOSF) and Korea Development Institute (KDI) have long shared the sense of importance attached to this issue and hosted the international forum on service sector advancement since 2010. This year marks the fourth of it, and its theme is: “Services as a New Engine of Growth: through Creativity and Innovation.” Suggesting creativity and innovation as a key to service sector advancement, this year’s forum will be attended by distinguished experts from Korea and overseas to discuss the importance of creativity and innovation in service sector advancement, innovative cases in services, and policy tasks for Korea’s service sector to embrace innovation.

This forum serves as a central venue for sharing knowledge and policy recommendations for service sector advancement, which could make a substantial contribution to solving pending challenges Korea’s service sector is facing today.

In this context Jari KUUSISTO Director, SC-Research at University of Vaasa/Visiting Scholar at MIT Sloan School of Management gave a presentation on:

‘Growth through Service Innovation – Key Results of the Global Service Innovation Policy Analysis