South Korea has one of the world's highest broadband penetration rates, with optical-fibre connections accounting for almost all household connections. The mobile-phone penetration rate is over 100%. Throughout the forecast period South Korea will be the fifth-largest information technology (IT) market in Asia after Japan, China, Australia and India. The local IT market was worth some US$36.5bn in 2011, with hardware spending accounting for around 70% of the total.
One of the reasons for the success of telecommunications and IT products and services in South Korea is supportive government policy in terms of fostering competition, which maintains downward pressure on prices. The industry is regulated by the Korea Communications Commission (KCC), seen as a driving force behind the adoption of fourth-generation (4G) technology (which allows mobile phones and other wireless devices to connect to the Internet and use other data services at faster speeds than achieved via third-generation, or 3G, networks).
Given the trend for convergence in the industry, the KCC is reportedly discussing ways to implement a horizontal regulatory system in which the same rules apply across the broadband Internet, mobile-telephony and fixed-line markets.
Industry List: Hardware, Telecoms and Technology, Internet, Telecoms and Technology, Software, Telecoms and Technology, Telecoms and Technology, Telecoms, Telecoms and Technology
Industry Codes (NAIC): 517
Industry Codes (SIC): 48
Telecoms and Technology Report South Korea 4th Quarter
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