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S. Korea to Pour W1.2tr into IT in 2011
Source: koreaherald.com
Source Date: Monday, December 20, 2010
Focus: ICT for MDGs, Institution and HR Management
Country: Korea (Republic of)
Created: Dec 21, 2010

South Korea plans to inject more than 1.2 trillion won ($1 billion) in the information technology industry next year focusing on smartphones, cloud computing and 4G telecommunications, the government said Monday.

The Ministry of Knowledge Ministry has increased the IT investment 11 percent from this year forecasting smart gadgets, convergence technologies, displays and 3-D devices to continue to lead global growth.

“Despite a lot of worries on the local IT industry which resulted from the aftermath of the global economic crisis and the so-called ‘iPhone shock,’ it achieved a best-ever performance this year,” Minister Choi Kyung-hwan said.

“On top of the global economic recovery, such a result was particularly credible to the local smartphone makers’ prompt action to launch competitive models as well as tablet PCs.”

The country’s combined IT-related exports topped a record $140.9 billion in the January-November period, exceeding the previous record of $131.2 billion in the same period in 2008, the ministry said earlier this month.

The government projected that the country’s exports of semiconductors and display products is likely to decrease next year due to the saturated and stagnant global IT market in 2011. The worldwide IT industry is expected to grow by 3.5 percent in the new year.

However, the country will still be able to lead the market for mobile DRAM chips and active-matrix OLED which create more value added, the ministry said.

Cloud computing and 4G mobile technology, whose development local mobile carriers are now ambitiously pursuing, will also contribute to such a trend, they said.

Cloud computing refers to using PCs and other smart gadgets to access shared resources, software and information via computing resources that are typically owned and operated by third-party providers.

Users can dig into their individual storage spaces to listen to the contents stored there such as music, films and even the files they were reviewing at home.

The 4G mobile technology is expected to provide a comprehensive and secure mobile broadband solution to smartphones and tablet PCs.

Meanwhile, the government will step up efforts to develop software and chips sectors to actively advance to the global market, and to secure sufficient appropriate human resources, ministry officials said.
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