The present paper summarized open innovation policies of three countries—Korea, Japan, and China—based on the frame of analysis of open innovation policies proposed by Chesbrough and Vanhaverbeke (2011), which centers specifically on recent policies used since the 2000s. Literature analyses were basically used and interviews were used in a limited range. In particular, from the viewpoint of knowledge production, distribution, and consumption, open innovation policies of the three countries were summarized and their characteristics were briefly compared. In addition, Asian countries’ several misunderstandings of open innovation were elucidated. Asian countries’ several particular misunderstandings of open innovation in contrast with Western countries grasped in the processes of literature analyses, interview analyses, and this authors’ study of open innovation were described. Finally, based on the comparison and analysis of the three countries’ open innovation policies and the elucidation of Asian countries’ several misunderstandings of open innovation, several open innovation policies for Asian countries were proposed.