President Park's advisers say the technology of public research institutes and the business management infrastructure of the private sector should merge to realize the president's vision for a creative economy.
At a meeting of the presidential science and technology council Thursday, the head of Daegu Gyeongbuk Institute of Science and Technology spoke about how Korea stands just 39th in the world in terms of the economic benefits from acquired skills in the field of science and technology.
Referring to what are called "technology investment companies," Shin Sung-chul said public institutes are allowed to only focus on research, while private firms take over the management.
The profits from commercialization can then be reinvested back into research.
A special committee of engineering experts and government officials also reported to President Park about the need to innovate Korea's engineering schools, and how to go about doing it.
They said while the number of university engineering school graduates in Korea topped OECD rankings last year, the graduates often lack practical skills and struggle to adapt in the field.
That, according to the committee, is because schools assess and hire professors based on the number of their theses, not their on-site experiences.
Also, they say there aren't enough exchanges between industries and universities.
The presidential advisers then said schools should assess professors based more on practicality, and motivate them to gain more experience in the private sector.
They added businesses should be encouraged to cooperate with universities and the government could act as a bridge between the two sides.
The proposed measures will be presented at a public hearing before they are drafted into a government plan.
Choi You-sun, Arirang News.