Invest KOREA

The Korean government and information and communication technology (ICT) companies gathered to discuss ways to build the competitiveness of ICT equipment.

The Ministry of Science, ICT and Future Planning (MSIP) announced last Friday that it held a discussion with CEOs of ICT equipment companies.

The Korean government, ICT equipment companies and related agencies exchanged their views on developing competitive products, expanding markets and building an ecosystem for ICT equipment to enhance Korea’s ICT competitiveness.

To develop competitive products, research and development, the fostering of strategic products for exports and enhancing confidence in Korean products were suggested.

Topics debated to expand the ICT equipment market included the facilitation of the public equipment market, an increase in exports and the creation of a new market. Some pointed out that the reinforcement of academia-industry-government cooperation and a dedicated support system is required to build an ecosystem for ICT equipment.

Minister of Science, ICT and Future Planning Choi Moon-ki noted that Korea has become an ICT powerhouse with e-Korea Vision in 2002 and U-Korea Master Plan in 2006, but that Korea does not have the same level of competitiveness in the equipment industry.

Minister Choi noted that ICT equipment is the infrastructure for software and service industries, which are the core of the creative economy. He added that to make Korea an information and communication powerhouse, the ICT equipment industry needs to develop a virtuous cycle with software and service industries.

The minister said that the ministry will listen to opinions from various industries and develop polices to foster small- and medium-sized companies and create jobs. He also requested cooperation between the private and public sectors.


Source Text

Source: Newsis (Aug. 16, 2013)