South Korean Government to Prepare Strategies for Strengthening and Expanding ICT Industry

Jan 28, 2019

“We are currently preparing ‘strategies to enhance and to expand ICT (Information Communication Technology) industry’ so that we can enhance our competitive edge in ICT industry and contribute in innovative growth of our economy.” said Vice-Minister Lee Ho-seung of Ministry of Economy and Finance (MOEF).
“Our status as ‘IT Korea’ is facing challenges due to reduction of exports related to ICT, skewed importance on semiconductor, and slow progress of rising nations including China.” said Vice-Minister Lee at ‘Second Innovative Growth Strategic Examination Meeting’ that was held at Government Complex-Seoul.
“We need to strengthen our major industries such as Smartphone and semiconductor even more and diversify structure of ICT industry towards software and service.” said Vice-Minister Lee. “We are planning to actively support expansion of new industries.”

Vice-Minister Lee Ho-seung of Ministry of Economy and Finance is making a statement at Second Innovative Growth Strategic Examination Meeting. <Vice-Minister Lee Ho-seung of Ministry of Economy and Finance is making a statement at Second Innovative Growth Strategic Examination Meeting.>

“It is very important for us to convert our economy into ‘data economy’ if we want to improve level of convenience of our citizens by accelerating innovative growth and utilizing various information.” said Vice-Minister Lee. “South Korean Government is also working on rapid revision of data economy laws.”
“We are going to actively look into enhancing personal credit evaluation system and systematizing my data to use excellent public information while protecting personal information.” said Vice-Minister Lee.
“It seems that U.S. Government will announce its 232-pages automobile report sometime during February.” said Vice-Minister Lee. “Our government will send our opinions to U.S Government through every available channel and prepare itself towards every scenario U.S Government can throw at us.”
Staff Reporter Yoo, Seonil | ysi@etnews.com

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