This study discusses dynamic development of Korean innovation system in a brief. The motivation of this paper is to improve understanding of the national innovation system, by investigating the Korean innovation system, from the start of capacity building, in consideration of theory of national innovation system. It is frequently pointed out that modern innovation policy is difficult to be implemented by the developing country, perhaps because of insufficient framework condition, or social capital. If the national innovation system can be taken as continuity from the capacity building, the policy domain would be expanded. If so, the policy can be pursued not only focusing on interaction of the innovation units and flows of knowledge, but also on the process of capacity building. In this line, we look into the historical evolution of the Korean innovation system. It is the development of Korean innovation system because it had taken only about four decades to develop an advanced system. In addition, the development of Korean system is initiated and driven by the government, and therefore the role of government is discussed which would provide some important implications to the developing countries. Double-winged strategy of Korean government was critical; such as promotion of industrialization on demand-pull side, and S&T development on S&T push side by creating GRI system.