Information Technology was once the miracle worker of Korea, credited with a boosted GDP, GNP, and number of businesses. Has the IT bubble popped now as some may say, or is it still a treasure trove that requires patient digging The 2009 IT 21 Global Conference called out "Aye!" on the second question.

The Special Presidential Adviser on Science and Technology Park Chan-mo started the keynote speech and said: "Indeed the world is in crisis, but please do remember what Seth Godin said once, ‘Safe is Risky, Risky is Safe.' As long as we don't lose the grip on positive thinking and search for possibilities, there is a key. President Lee Myung-bak often encourages us by saying, ‘It is better to work and make mistakes rather than not working at all to avoid mistakes.' With a futuristic vision and a little sprinkle of optimism, this crisis shall pass."

According to Park, the Lee administration drafted the 577 Initiative in 2008 to support Science and Technology. Jotting the 577 Initiative down may hint at a new research direction for young attendees who seek to be one step ahead. The numbers stand for 5% investment in 7 R&D fields including knowledge-based services and convergence. This 5% investment in 7 major R&D areas will allow Korea to become one of the top 7 countries in science and technology.

Knowledge-based S&T and Big Science were heavily emphasized in Mr. Park's keynote speech. "Special attention is required for knowledge-based services including medical services, cultural content, and design. We seek that software and IT convergence which will contribute a lot to these areas in the near future. The development of atomic power, national defense-aiding technology, and projectiles are also areas that require undying support. Next-gen nuclear reactor technology is also in the process of fast development," he said.

A Senior Architect of Microsoft, Miha Kralj, gave a very colorful presentation on the subject of "How will IT change in the next decade" "As you can see, IT has a power to alter reality. That is why the French poet once said, the future isn't what it used to be." Cars as a service, Iceland being well connected with network services, virtualization, cloud enablers that promote new relationships, and transition to utility computing are only a few thing that he spoke about. Further details will be found in the June edition of the Korea IT Times.