Policy

Science Ministry Raises R&D Support for SMEs to 18%
Thursday, April 25th, 2013

SEOUL, KOREA – The Korean government has decided to raise the percentage of SME R&D support by 4.4%p over the next five years to 18.0%. In addition, the government will ramp up investment in convergence R&D projects that are closely related to the lives of the public, such as population graying, diseases, tourism, education, social services, etc.

Mobile Phone Subscribers to Change Their Service Providers
Wednesday, April 24th, 2013

SEOUL, KOREA - It has been reported that the number of those that changed their mobile phone service providers, while keeping the same number, reached a record high over the weekend. And the number is known to be two times as many as the norm the government has set to check if the competition among the telecommunications service providers is overly heated.

Deregulation on Foreign Portfolio Investment in Korea’s Telecom Operators
Wednesday, April 24th, 2013

SEOUL, KOREA – The 49% cap on foreign portfolio investment in common carriers (except KT and SK Telecom) will be significantly eased. And attempts to damage or forge the IMEI (International Mobile Equipment Identity) will be subject to up to two years in prison or a penalty of up to KRW 100 million.

Creative Economy Hinges on “Disruptive Innovation” and “Creative Convergence”
Wednesday, April 24th, 2013

SEOUL, KOREA – It was said that to usher Korea into a creative economy, the barriers among industry, academia and the government should be lifted to pave the way for “disruptive innovation” and “creative convergence.” Above all, the Ministry of Science, ICT & Future Planning (MSIP) should entrench itself as a control tower for convergence and innovation to creatively thwart endemic, inter-ministerial rows over business territory and create synergy out of close inter-ministerial cooperation.

President Park Met Bill Gates to Discuss the Korean Economy
Tuesday, April 23rd, 2013

SEOUL, KOREA - President Park met Bill Gates, the founder of MS, on the 22nd to discuss how to foster creativity and realize the creative economy.

The Future Ministry and KOTRA to Work Together to Enter the Chinese SW Market
Monday, April 22nd, 2013

SEOUL, KOREA - The Ministry of Future, Creation and Science and Korea Trade-Investment Promotion Agency (KOTRA) are going to establish a bridgehead to enter the Chinese SW market. KOTRA says that a Korean booth is to be set up at ‘2013 Soft China’, the largest software fair in China. The government is also rolling up their sleeves to help out KOTRA for the fair.

President Park Stresses the Importance of Science and ICT to Create Added Value
Friday, April 19th, 2013

SEOUL, KOREA - President Park said that science and ICT should be applied to all industries to create new productivity and added value at a meeting with the Future Ministry, Korea Communications Commission and Nuclear Safety and Security Commission on the 18th.

Experts Voice Ideas at Creative Economy ICT Convergence Forum
Friday, April 19th, 2013

Seoul, Korea - The Creative Economy ICT Convergence Forum hosted by Electronics and Telecommunications Research Institute (ETRI) and the ET News was held at the Korea Science and Technology Center on the 18th. 

Korean SRC to Build Competitiveness of Original Semiconductor Technology
Friday, April 19th, 2013

Seoul, Korea - The first Korean public-private joint project that will boost R&D competitiveness in overall semiconductor industry has been kicked-off. 

The Defense Ministry to Introduce Local SWs
Monday, April 15th, 2013

SEOUL, KOREA - The Ministry of National Defense signed an MOU with Hancom for a technical support for the national defense IT in November last year. A considerable number of Office programs used in the Ministry were changed to a local product of Hancom Office. And other localized SWs are used for many of the defense-related organizations.

Korea’s Science Ministry Spends KRW 31.5 Billion Nurturing IT Talent
Monday, April 15th, 2013

SEOUL, KOREA – The Ministry of Science, ICT and Future Planning (MSIP) will plough KRW 31.47 billion into fostering IT and IT convergence experts. The MSIP said Sunday it will provide KRW 22.17 billion to universities’ IT research centers and KRW 9.3 billion to projects aimed to nurture highly-skilled workers in the IT convergence sector.

BOK Freezes Interest Rate for 6th Month
Saturday, April 13th, 2013

Seoul, Korea - Despite the mounting pressure by government, Bank of Korea (BOK) froze the base rate again. The base rate stayed at 2.75% per annum for six straight months. BOK seemed to have made such decision on a belief that there is a sign of economic recovery, although it is feeble. 

Stark Difference between US and Korea in Budget for Cyber Security
Friday, April 12th, 2013

SEOUL, KOREA - The US government has increased budgets to be prepared for a cyber war by six times, while the Korean government doesn’t seem to have a plan for any increase in budgets for that purpose despite recent cyber attacks on major financial institutions and broadcasters.

Export-Supporting Institutes to Back up Small S/W Firms to Enter Overseas Markets
Thursday, April 11th, 2013

SEOUL, KOREA - Export-supporting local institutes are going to strengthen their backup for small-sized S/W makers to advance into overseas markets.

Local Environmental Industry to Advance into Foreign Markets
Thursday, April 11th, 2013

SEOUL,KOREA - A government project for local environmental businesses to enter overseas markets has just started. The Ministry of Environment is checking if local environmental businesses could move into Northern Africa, Asia, the Middle East, Latin America and Easter Europe for the markets of taking care of waste water, air pollution and waste materials.

The Ministry of National Defense to Use Spatial Data of the Ministry of Land
Wednesday, April 10th, 2013

SEOUL, KOREA - The Ministry of National Defense is going to use National Spatial Data Infrastructure of the Ministry of Land, Transport and Maritime Affairs to draw up an imagery map.

Korea to Enact Creative Economy Special Law
Monday, April 8th, 2013

SEOUL, KOREA – Efforts are underway to enact Creative Economy Realization Act (tentative name). A creative economy implementation team will be formed within the Ministry of Future Creation and Science and a creative economy category will be added to the government’s budget plan.

Korea Invests KRW 15.3 Billion in Nano Convergence R&DB Projects
Monday, April 8th, 2013

SEOUL, KOREA – The Ministry of Trade, Industry and Energy (MOTIE) and the Ministry of Future Creation and Science said KRW 15.3 billion will be poured into nano convergence R&BD (Research & Business Development) projects this year to follow through with “Nano Convergence 2020,” a joint project that began last year.

Ministry of Future Creative Science Launches Council on Commercialization of Future Internet R&D
Friday, April 5th, 2013

Seoul, Korea - The existing ICT R&Ds sanctioned by the government focused heavily on the research side. Ministry of Future Creative Science (MFCS, the official name to be announced) plans to improve such practice by placing a greater emphasis on commercialization of the research results.

Minister Yoon Sang-jik Promises R&D Tax Credit for SMEs
Friday, April 5th, 2013

SEOUL, KOREA – The Korean government will raise the R&D tax credit for SMEs, which currently holds at 30%, up to 50% to shoulder the burden of R&D expenditures on SMEs and will help enhance price competitiveness by lowering electricity surcharges that have been imposed on companies.

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