Key to Korea's Economic Revival This year marks the 42nd anniversary of the government's christening of the 30th of November as the Trade Day, commemorating the attainment of $100 million in exports in 1964. During the period since then, the nation's trade volume has soared, giving rise to a forecast that the figure for this year will be an astounding one of over $500 billion. Behind the scenes of today's Korea boasting a remarkable economic growth from one of the poorest nations on earth in the early 1960s, with a per capita GNP of $82, was 'Korea's Trade of Hope'. And, at the very center of this hope, there is the IT industry of ours. In 2004, Korea's IT industry recorded $74.7 billion in exports, accounting about 29.3% of the nation's total exports of $253.8 billion. Of the five major export items, three are from the IT industry - semiconductors taking the second largest share while mobile phones and PCs assuming the third and fourth places respectively. This year, too, it is expected that the IT exports, which have recorded $64.5 billion as of October this year on the back of its competitive edge in the global market and despite unfavorable surroundings such as the industry's slump together with the strong Korean currency won and high oil prices, is anticipated to post about $80 billion in exports by the year's end. Within a period of about 10 years or so since IT exports have begun in earnest, and following the times of light industries in the 1960s to heavy industries in the 70s, and to electronics in the 80s and semiconductors in the 90s, the IT industry has truly grown to become a major driving engine for the nation's exports. For a nation with scarce natural resources and trivial domestic market, it had been inevitable to adopt an exportdriven economy. As a result, IT exports have now become a core driving force for the nation's economic growth. Nevertheless, there is a dark side to the brightness of a rapid economic growth. As a result of the high dependence on few export items, such as semiconductors, mobile phones and PCs, the industry is vulnerable to changes in the external environment. Accordingly, the ministry is devoting much of its energies on developing and aiding future export items in order to overcome such difficulties and lead the nation's economic growth and exports. As a result of the ministry's promotion of semiconductor and mobile phone businesses jointly with the private sector from the early days, these items today are making astronomical contributions to the nation's economy. In the early 1990s, ETRI succeeded in developing 4M, 16M, 64M DRAMs and, through the transfer of these technologies to the private sector, Samsung Electronics was able to develop the world's first 256M DRAMs in 1994. In 1996, we succeeded in commercializing CDMA technologies, the first of its kind in the world, and thus have secured a competitive edge in the mobile field, too. The reason for our unrelenting drive for the globalization of DMB and WiBro technologies, the outcomes of 'IT839' project, can be found in none other than this. During President Roh Moo-hyun's round of visits overseas in April and September this year, we have demonstrated DMB and subsequently won the signing of MOUs for its introduction in Germany and Mexico. As a result of such effort, the opening match for the 2006 World Cup in Germany is scheduled to be test broadcast around the world to over 10,000 people from the media. As DMB alone can account for $14 billion in exports in 2010, it is expected to create a new 'Blue Ocean'. At any rate, however, we have to bear in mind that 'The big is victorious over the small in the Industrial Age, but the fast can beat the slow in the Information Age'. As Korea holds the national characteristic of attaching importance to speed and high-quality ICT infrastructure with the world's highest broadband user ratio, together with early-adopters, the nation is suitable for the fast-developing IT industry to make a progress. If we can develop new and high valueadded products through the 'IT839' project and succeed in gaining the ground in overseas markets based on such foundation, the IT industry will continue to play the role as the pillar of the nation's economy and reach the goal of attaining the per capita income of $30,000.