These days, China is narrowing its gap with South Korea at a rapid pace in the manufacturing sector by maintaining low labor costs and making huge R&D investments. Analysts say China is already ahead of South Korea when it comes to future technologies such as big data, autonomous driving and artific
The South Korean government, including nine economy-related ministries such as the Ministry of SMEs and Startups (MSS) and the Ministry of Trade, Industry and Energy (MOTIE), held a briefing session on its small and mid-size business smart manufacturing innovation strategy at a council chamber in th
Korea Chamber of Commerce and Industry (KCCI) Chairman Park Yong-man said on Nov. 5 that there are still too many regulations for South Korea to embrace Industry 4.0.He cited the Personal Information Protection Act as one of the biggest obstacles to Industry 4.0. “Big data accumulation and research
Back in 2014, KT Corp. boosted its wired Internet speed from 100 Mbps to 1 Gbps. In four years, the company achieved another quantum jump by launching Internet services with a speed of 10 Gbps.KT announced that it launches the first nationwide 10 Gbps Internet services on Nov. 1. In addition, the co
A large number of Korean AI developers are opting for jobs abroad. Kakao Corp. CEO Kim Bum-soo blamed the nation's data-related regulations for the brain drain.Kim attended a parliamentary audit of the Ministry of Science and ICT on October 10. He testified that his company has succeeded in hiri
The Bank of Korea claimed that South Korea’s business strategy vis-à-vis China needs to be overhauled as China is seeking to turn itself into a country with an advanced industrial structure concentrating on high technology. The overhaul means a shift in focus from intermediate goods exports toward m