□ DGIST (President Young Kuk, Ph.D.) announced that the principal researcher, Dr. JinHyo Joseph Yun, at the Division of Electronics and Information System published a book titled “Open Innovation Dynamics: Capitalism, Socialism and Democracy in the 21st Century” with Cambridge Scholars Publishing, a leading British academic publisher.
□ This book selected 13 of Dr. Yun’s achievements published in Open Access over the past decade in cooperation with global researchers. It organized them into three parts: Open Innovation Dynamics, Open Innovation Business Model, and Open Innovation Political Economics.
□ The first part presented a new definition of the creative connection or combination of technology and market while considering open innovation as the 21st-century form of combination among technology, market, organization, and society from Schumpeter’s theory. In the second part, the book analyzed the process of open innovation becoming embodied in a business model through the creative combination of technology and market, focusing on the Korean market, and identified it through global joint research with British and Japanese scholars. The final part outlined the academic background of open innovation research. In this section, with global scholars, Dr. Yun clarified the phenomenon that Herbert Simon's bounded rationality as the economic basis for open innovation is manifested in various ways in microeconomics and macroeconomics from the political-economic perspective.
□ Dr. Yun said, "This book was written with the academic influence of Eleanor Ostrom, a Nobel laureate in economics, and Henry Chesbrough, a proponent of open innovation research," and added, "I founded the Journal of Open Innovation in 2014 and have published more than one article in the last decade. I sincerely appreciate the global researchers’ collaboration and joint research."
□ Dr. JinHyo Joseph Yun, a principal researcher at DGIST, is the editor-in-chief of the Journal of Open Innovation and a professor at the Open Innovation Academy. Dr. Yun is the first corresponding author and editor of this new book and published it in collaboration with leading experts in the field, including Professor Andreas Pyka, vice president of the University of Hohenheim (Germany), and Professor Giovanni Schiuma of Lum University (Italy). The book is available for purchase online at the Cambridge Scholars Publishing website.
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