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Jeju to invest KRW 5.5billion to foster innovative, growing industries through digital technology convergence

Jeju Special Self-governing Province announced on February 7 that it will invest in total of KRW 5.5 billion in 17 projects to foster innovative, growing industries that incorporate digital technology convergence.

The province will push forward with a KRW 400 million plan to digitally facilitate society innovation based on participation of local residents. This project is to run a digital participation platform in which local residents suggest an issue for discussion, and to run a project to resolve local issues through platform.

KRW 1.7billion will be put into establishing scientific administration system and big data industry ecosystem. This project is to conduct a preliminary consulting to reflect big data analysis when setting up major policies, and to identify and utilize big data analysis model by sector.

KRW 1.8 billion will be allocated to building an intelligent smart city based on data. This plan is to establish Jeju-style smart city Information System Planning (ISP) to devise mid- and long- term master plan for the resolution of city issues in the era of the fourth industrial revolution by utilizing the latest ICT technologies, and upgrade movable IoT platform utilizing public transportation.

KRW 1.6 billion will be put aside to foster ICT-based convergence new industries. This is to support technology development and product marketing to nurture local ICT industry, and to develop and commercialize SW convergence products applying new technologies.

A provincial government official said "we will proceed with projects to resolve social issues and reach out to local residents by utilizing digital convergence technology".

Source Text

Source: Newsis (February 7, 2019)

** This article was translated from Korean.