In a report said yesterday, "Korea's information technology industry began to slow down in recent years due to an imbalance between growth in certain area."
The Korea Chamber of Commerce and Industry stated, "The IT industry grew 16 percent annually since 1989. However, since 2005 the average has fallen to five to seven percent.
The report went on to say that the nation's IT industry has exceeded global standards since the 1990's. The slowdown was contributed to hardware, software, finished goods and parts, and between large and small corporations.
An export insists, "Between 2000 and 2008, the hardware industry recorded an annual average rate of nine percent mean while the software industry grew seven percent. While domestic production in the IT industry remains weak and that the industry depends on foreign companies in the material and equipment sector, the report concluded.
