Engine for Korea's New Economic Take-off
Korea's Internet economy accounted for 7.3% of the nation's GDP in 2012, providing a growth engine for the robust Korean economy. During the first two months of 2012, the IT industry registered a US$12.46 billion trade surplus. The figure represented five times the nation's total trade surplus during the same period.
As of the end of 2012, Korea ranked first in the UN's e-government appraisal list, dominating global IT markets. Illustratively, Korean companies achieved world-first ranking in mobile and smart phones for the sixth consecutive quarter (2Q '11 ~ 3Q '12).
Korea has a global market share of over 60% in the DRAM sector and also over a 45% share in NAN flash.
This year, Korea is moving to accelerate the development of new IT-related sectors with the cultivation of the SW industry, spread of IT convergence, development of 10 core IT technologies, nurturing of creative high-quality manpower and regionally specialized IT industries.
Moreover, Korea plans to invest further with a focus on 10 future-leading-type IT core technology tasks - next-generation devices, big data & artificial intelligence, hybrid storage, core IT materials, wired & wireless integrated network, terahertz & quantum information communication, unmanned platform, bio sensor, life-care robot and power semiconductors.
The nation also plans to support the cultivation of specialized and differentiated professional manpower and expand support significantly for the IT industry, considering regional characteristics.
Of particular note, the government said it would strengthen IT core capabilities further through new projects, such as support for Giga Korea, SW policy research and establishment of an IT startup forum.
The government plans to support 10.3 billion won this year alone for Giga Korea, an R&D project to build giga-class wireless environment by 2020, while investing a total of 550.1 billion won until 2020. It also plans to expand SW policy research functions and strengthen SE monitoring businesses, support the technology commercialization of SMEs and mid-tier enterprises and enhance regional SW industries.
In addition, it intends to dedicate budget to the activation of youth start-ups and creation of an IT venture growth ecosystem, designation of new collegiate IT research centers, support for the growth of domestic Wibro-related SMEs and mid-tier enterprises and establishment of e-document distribution centers.
To prepare a foothold for Korea's takeoff toward a world-leading IT country, it intends to invest 24.8 billion won in newly promoting R&D in 10 IT core technology fields, including smart equipment, source technologies for IT core materials and big data & artificial-intelligence SW technologies.
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