Revisit the concept and usefulness of Science and Technology Park and implication for the regional innovation policy: Cases of Seoul and Gyeonggi Province in Korea

Science and Technology Park(STP) has been regarded as one of the most effective policy tool to promote innovation activities in the region. However, there are both success and failure cases around the world. In this paper, existing research arguments are reviewed. As the existing literature reveals, many success factors are found such as location, university industry research institute linkage, and management capabilities of governing organization and etc.