The government plans to inject a total amount of W546 billion (US$427.2 million) in the broadcast network equipment industry over the next five years until 2013, including W180 billion (US$140.8 million) to develop broadcast network equipment technologies.
The Ministry of Knowledge Economy and the Korea Communications Commission (KCC) reached a decision on this at the 19th emergency economic council meeting held on May 28 under the chairmanship of President Lee Myung-bak. Under the new plan, the industry will raise the scale of broadcast equipment production to the US$1.5 billion point by 2015, and increase the global market share of Korean-made broadcast network equipment from an insignificant 1 percent in 2008 to 10 percent by 2020.
To lay the foundation for growth of the next-generation broadcast network equipment industry, the ministry and the KCC also decided to spend W366.1 billion (US$286.5 million) to help universities and enterprises develop original technologies and standards for the next five years. This amount will be spent to develop technologies for next-generation digital TV, mobile broadcasting and fusion media.
