Korea has pursued a cluster-based policy to increase industrial competitiveness and to alleviate development gaps between the regions. However, local governments have often oversupplied clusters without an objective examination of the demands and conditions in the regions. Based on these concerns, this study analyses effects and interdependencies of factors related to regional innovation and growth in Korea. Employing a PCA method and a GLS regression models on panel data, we generated three composite factors, social, capacity, and clustering, and estimated their effects on regional economic performance. The results show that it is important to have a favorable socio-economic setting to foster growth by clusters. In addition, cluster-based policies may have weaker effects than expected, because the effect of R&D capacity on regional growth was stronger and longer lasting. Finally, some specific elements that most affected economic growth in Korea’s regions are identified. The overall results indicate favorable environments should be established beforehand to foster regional growth with clusters, which confirms “jobs follow people.”

韩国奉行以集群为基础的政策，以提高产业竞争力并缩小地区之间的发展差距。然而，地方政府往往在没有客观审查地区需求和条件的情况下供应过剩的集群。基于这些担忧，本研究分析了与韩国区域创新和增长相关的因素的影响和相互依存关系。在面板数据上采用 PCA 方法和 GLS 回归模型，我们生成了三个复合因素，社会、能力和集群，并估计了它们对区域经济绩效的影响。结果表明，拥有有利的社会经济环境对促进集群增长非常重要。此外，基于集群的政策的效果可能比预期的要弱，因为 R& D 区域增长能力更强、持续时间更长。最后，确定了对韩国地区经济增长影响最大的一些具体因素。总体结果表明，应事先建立有利环境以促进集群的区域增长，这证实了“工作随人”。