SEOUL, KOREA – The Korea Institute for Advancement of Technology (KIAT), established in May 2009 as a quasi-government institute (a public institute) under Ministry of Trade, Industry and Energy (MOTIE), has invested KRW 10 billion in Intellectual Discovery (a South Korean company specializing in intellectual property (IP)), thereby becoming one of the two largest shareholders of Intellectual Discovery.


SEOUL, KOREA – Though the South Korea government has implemented foreign talent-friendly policies (e.g. visas and tax benefits), South Korean companies’ corporate culture and inter-Korean relations turned out to have served as an obstacle to attracting overseas human talent.

SEOUL, KOREA – South Korean President Park Geun-hye stressed that the government should root out corruption by expanding the degree of public information disclosures through the implementation of the “Government 3.0” plan. Under the “Government 3.0” plan, one of President Park’s key campaign pledges,

SEOUL, KOREA – The Ministry of National Defense of South Korea has requested the center government to set aside KRW 520.3 billion (up KRW 13.3 billion y-o-y) for mounting responses to cyber terrorism in fiscal year 2014.

SEOUL, KOREA – Government ministries have requested a KRW 17.8 trillion R&D (research and development) budget for next year, up KRW 900 billion (or 5.7% from this year’s).

SEOUL, KOREA – The South Korean government will plough KRW 92 trillion into science and technology R&D projects over the next 5 years in a bid to move the creative economy agenda forward. The government aims to create up to 640,000 new jobs by making aggressive investment in science and technology R&D projects.

Seoul, Korea - According to the trade insiders on the 8th, some high-tech companies that had to leave Gaesung Industrial Complex will have more difficulty than expected in resuming their businesses. 


SEOUL, KOREA – A one-stop support system for Internet-based start-ups, aimed to help Internet start-ups attract investment and enter overseas markets, has kicked off.


SEOUL, KOREA – South Korean President Park Geun-hye returned to South Korea on Sunday, ending her 4-day state visit to China. Many view that her visit has succeeded in shoring up South Korea’s relations with an important neighbor and creating new upward momentum for the stalemated negotiations on a South Korea-China FTA and for Korean companies’ participation in China’s interior development policy “Western Region Development project.

Seoul, Korea - Act on Promotion of Cloud Computing and User Protection (‘Cloud Act’) is finally going to be introduced to the National Assembly in September. A system that will verify the safety of private cloud computing service is also to be introduced. 


SEOUL, KOREA – The South Korean government will raise a KRW 100 billion fund designed to support M&A activities by foreign materials and parts companies.

SEOUL, KOREA – The South Korean government will scale up its efforts to promote the purchase of electric vehicles (EV) in the private sector. The government will expand government subsidies on EVs, which have been limited to the public sector for the past 3 years, to the private sector.

Seoul, Korea - MSIP held the Frequency Allocation Policy Advisory Committee meeting on the 25th and collected the expert opinions on the two remaining options on the allocation of frequency for the last time.

SEOUL, KOREA – The South Korean government is known to have been mulling a package sale of Woori Bank, Woori Investment and Securities and Woori Credit Card.

Seoul, Korea - According to the sources, Ministry of Trade. Industries & Energy (MOTIE) recently delivered its official opinion to Ministry of Science, ICT & Future Planning (MSIP) and opposed the establishment of IT Technology Promotion Agency (tentative name) within MSIP, citing that the role of the Agency overlaps with the roles of other organizations located under the MOTIE, such as Korea Evaluation Institute of Industrial Technology (KEIT). 

SEOUL, KOREA - As many of the government-led projects of digitalizing public institutes are using foreign open-source software, many are voicing their concerns that the government should revise its policy as it is only benefitting foreign vendors.


SEOUL, KOREA – Irving A. Williamson, Chairman of the United States International Trade Commission (ITC) will pay a visit to South Korea next week. Since the US ICT has recently ruled in favor of Samsung Electronics in the Apple-Samsung patent dispute, his visit to Korea draws attention.


SEOUL, KOREA – Revelations by NSA contractor Edward Snowden of a program called Prism to sift data from US web companies have raised fears over online privacy in parts of Asia as well. Whatever the truth, the reliance of Asian officials on e-mail services, offered by US web giants like Yahoo Inc and Google, highlights how vulnerable they are to eavesdropping, according to Reuter.

SEOUL, KOREA - The optimized midnight bus routes will be set up by utilizing Big Data technology. And comprehensive information on regional and age-specific trends of major epidemic diseases will be established as well.

SEOUL, KOREA – Inter-Korean authorities talks, initially scheduled for today, was cancelled at the eleventh hour as South Korea and North Korea failed to narrow their differences on the level of top delegates to represent each side at the inter-Korean authorities talks.

Syndicate content