200711

Korea's national competitiveness ranking rose with the 11th rank, up 12 in comparison with the previous year thanks to rapid ascension of science technology, corporate activity maturity, and corporate innovation.

According to the 2007 National Competitiveness Report, announced by the World Economic Forum on October 31st, Korea posted the highest ranking since this report began to be announced in 1996 as our country's competitiveness ranking rose from the 23 rank last year to the 11 rank this year.

The patent world in South Korea is undergoing a period of growth and change these days. Many new patents are being made, as always, but also many new patent lawsuits are being pursued.

LG Electronics (LG), a global technology leader and pioneer in home appliance convergence as well as the world's leading air conditioner manufacturer, announced on November 1 that the company plans to expand into the energy solution business to actively respond to energy and environmental issues. Through this move, LG expects to achieve sales of US$7 billion by 2010. The company also expects its proportion of sales of commercial air conditioners will increase from 30 percent of its total air conditioner sales to 50 percent by 2010.

The computer game industry in Korea has grown into a high value added cultural contents industry, and it is now playing an important role as a growth engine of national economy. On the occasion of the G Star 2007 festival, the Korea IT Times met up with Choi Kyu-nam, President of KOGIA (the Korea Game Industry Agency), and heard about KOGIA's core plans and activities. The game industry has grown into a core cultural contents industry, but unfortunately, the scandal of "Sea Story" last year had a significant negative impact on the game industry.