Telecoms and Technology Report South Korea 1st Quarter

The Economist Intelligence Unit, January 2013, Pages: 14

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 an estimated US$35.9bn in 2012, 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. During her presidential election campaign in December 2012, Park Geun-hye (who ultimately won the poll) pledged to focus on making South Korea a "creative economy", part of which would be to boost the country's technology, IT and software sectors. The president-elect's transition team is currently working on a series of policy documents which, when released, may give greater detail of her specific plans.

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).

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 1st Quarter

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Telecoms and technology report

Telecoms and technology report: Overview

Telecoms and technology report: Telecoms

Telecoms and technology report: Internet

Telecoms and technology report: Hardware

Telecoms and technology report: Software

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