This paper raises two questions about the overall national innovation system (NIS) in Korea, Japan, and Taiwan - (1) what has distinguished the three countries in terms of their NIS in the past and (2) why are the changes that are taking place now, relatively make the NIS in these countries similar to each otherulcorner At present, the NIS of each country is becoming more privatized and flexible than the pre-financial crisis period. We argue that this assimilation is due to the free flowing technologies readily available in the international technology markets. We argue significant shifts in the NIS of these three countries, notably a move from a manufacturing-based NIS with a high level of protection, piracy, and stability to a venture-based NIS with high levels of flexibility, risk taking, and technological innovation.