At the intersection of technology, finance and the Pacific Rim.

Wednesday, March 31, 2010

Korea IT Policy

The Korea Herald published an article "Korea introduces new IT Policy Drive".

It quotes members of the Ministry of Knowledge and Economy as follows: ""The government will openly embrace changes, create a new market through IT convergence, secure growth potential and facilitate free communication among stakeholders,"

To quote Ronald Reagan, "the nine most terrifying words in the English language are 'I'm from the Government and I'm here to help.'

According to the article, the government will list prospects for IT trends to help both the private and public sectors to deal with rapidly evolving technologies.

It is amazing that they can be so smart and so patriotic because the writers could make so much more money (and more personal life flexibility) in the stock market.

And furthermore....

"For the nation's mobile industry, which has lost some of its market portion to foreign smartphones this year, the government will push ahead with commercializing next-generation wireless networks, developing the core parts of mobile handsets with homegrown technology and creating new mobile applications.

Maybe they haven't switched their calendars yet--the new Millennium was 10 years ago.

Sorry--I could not resist. I have deep respect for Korean IT companies--like Samsung and LG has also done a good job, it seems, given their resources. But these guys don't need the government for much --except lower taxes and a better focus on education and its output.


Post a Comment

Links to this post:

Create a Link

<< Home