Through time-series plots, we can see relatively stable trend of energy factor share and the decreasing trend of relative energy prices (to wages) in Korea. We can compromise these empirical facts with the following explanation: if elasticity of substitution between capital and energy is smaller than one (<1) in Korea, a change (decrease) in energy price can prevent income share of resources from rising in the process of economic growth. This is consistent with theoretical and empirical results that substitution between energy and capital is so difficult. From simple empirical analysis and limited information, we can carefully infer that, in the past in Korea, resource-specific innovation was performed widely. Finally, if we are to reduce the magnitude of growth drag, we should decrease energy factor share. This can be accomplished by energy-augmenting technical progress in the case of elasticity of substitution less than 1 as in Korea.