Since the early 1990s, cluster-based policies have been celebrated as the basis of successful regional industrial and technological development strategy by encouraging regional innovation and technological spillover. Most recently, the Korean government has also begun to seek to initiate some strategies for promoting industry clusters. However, it is problematic that the cluster policies still focus on attracting related firms and establishing supporting agencies and physical infrastructures rather than improving social and institutional dimensions for cluster development such as social capital, networks, social learning capabilities, the governance of regional innovation. In this paper we attempt to elucidate social and institutional dimensions for cluster development and suggest some policy agenda to promote innovative cluster.