The Third Korean Foresight Exercise entitled ‘Future Perspectives and Technology Foresight for Korea – Identifying Challenges and Opportunities for Korea’s Economy and Society’ represents the most comprehensive effort to date by the Korean government in the field of S&T foresight. Capitalizing on previous studies conducted in 1994 and 1999 its chief purpose is to chart the future of Korean society and technology and link peoples future needs to innovations in science and in research. Systemic in both character and methodology this Third Korean Foresight Exercise accelerates Korea’s evolution towards a knowledge society.