Changes in the Korean Government’s Role in TMT?
Posted: January 25th, 2008, by Yunho Chung
Recently at my company Veyond, we have hired an intern from Mexico, and he constantly points out many of the differences between Mexico and Korea in terms of telecom, media and technology. This makes me think again about many of the advantageous things that my country, Korea, has achieved in terms of technology.
My thoughts don’t stop here, but are still extended further into thinking about some of the reasons why we have advanced to this level. One factor that we inevitably run into every time is the government. For those unfamiliar with the Korean market, the government here has successfully coordinated efforts in R&D for many years, through agencies such as the MIC and ETRI. It has played a central role in bridging coordination problems, and given direction to technological advancements in the country.
There is some uncertainty now, given that there are some indications that at least in the TMT sector, the government’s role may be changing, given that the new administration is looking to change the structure of governmental agencies related to the TMT sector. How and to what extent this will affect the future of IT in Korea is still to be seen, but for anyone wanting to understand the Korean market, or take insights from Korea to apply to other markets, the government’s role must be well accounted for.
