Abstract:The digital economy has emerged as a primary driver of global economic growth. Conducting a comprehensive analysis and comparison of the digital economic policies of developed countries, from various perspectives, can offer valuable insights to support China's digital economy development. This study utilizes policy documents related to the digital economy issued by China and Republic of Korea from September 2004 to June 2023 as research samples. Employing Python language and Nvivo12 software, along with text econometric analysis method, this paper deeply examines and compares the characteristics of digital economy policies between China and Republic of Korea from the "instrument-target" perspective. The key findings are as follows: (1) While both countries emphasize investment in infrastructure, technology, data, and other factors in their policy themes, China focuses more on resource integration and enhancing digital governance capabilities, whereas Republic of Korea concentrates on promoting digital development across various industries through investment guidance; (2) There are also differences in terms of policy tools between the two countries - China lacks demand-side policy tools while Republic of Korea lacks environment-side policy tools; (3) In terms of policy objectives, there are distinct disparities between China and Republic of Korea - China supports industrial digitization and digital governance through infrastructure investment planning and organizational leadership, while Republic of Korea promotes digital industrialization and data value through technical support, technological innovation, and safety supervision. Based on these findings, it is recommended that in order to promote high-quality development of China's digital economy adjustments should be made to policy objectives in a timely manner; optimization should be done regarding the combination of policy tools; industry-university-research cooperation should be deepened; efforts should be made to strengthen digital governance capabilities; industrial digitization transformation should be promoted; talent training & introduction need strengthening. By establishing a robust system for digital economy policies we will stimulate new drivers for the sector leading towards sustainable economic & social development.