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MSIP Invests KRW 400 Bn in Developing Global SW Companies

(SEOUL=NEWSIS) The Ministry of Science, ICT and Future Planning (MSIP) will invest KRW 400 billion in nurturing global software (SW) companies by 2017, a project jointly carried out with the private sector.

The MSIP aims to develop 50 global SW companies with annual sales of USD 10 million and exports of USD 1 million and 30 smart contents companies with annual sales of KRW 1 billion and more than 1 million downloads by 2017.

The MSIP announced January 28 its work plan for 2015.

It will promote the Global Creative SW (GCS) project to nurture small- and medium-sized SW companies that have excellent capabilities in the construction and medical industries to lead the global markets.

The ministry and the private sector will invest a total of KRW 400 billion in the project by 2017, which includes this year’s KRW 48.6 billion. It is a follow-up to its goal of developing 50 global SW companies by 2017, from 17 in 2013.

It will strategically develop open-source software, including the internet of things (IoT), cloud and big data to create an SW-based new industry. It is to allow anyone who has creative ideas to develop new solutions and services at any time.

It will invest KRW 6.5 billion in developing global smart contents companies. It aims to expand the number of global smart contents companies from 10 this year to 30 in 2017.

It will provide tailored support for production, research and development and overseas marketing to smart contents companies that have creative ideas and technologies.

Source Text

Source: Newsis (January. 28, 2015)

** This article was translated from the Korean.
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