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Gov't launches K-ICT 2020 project

All News 11:00 June 09, 2016

SEOUL, June 9 (Yonhap) -- South Korea made public a five-year master plan on Thursday aimed at developing the country as a global power in the information security industry.

Under the "K-ICT 2020" project, the government will focus on "globalizing" its cybersecurity and other information protection technology.

In the face of North Korea's cyber threats, South Korea has continued efforts to fortify its cyber environment.

But it has much to be desired to enhance the global competitiveness of the infosecurity sector, which is regarded as a new growth engine.

"A robust 'information protection industry' is a must to become the world's top cybersecurity power," Choi Yang-hee, minister of science, ICT and future planning, said. "A turning point to innovate the paradigm of South Korea's information security has been made with the establishment of the strategy this time."

He added the government will expand investment in the field in order to turn it into a fresh "blue ocean" in South Korea's "creative economy" drive.

The government plans to promote startups and international cooperation.

It aims to increase the export volume of information security-related programs and equipment from the current 1.6 trillion won (US$1.3 billion) to 4.5 trillion won by 2020.

"We will push for the K-Security brand worldwide, breaking the market structure centered on domestic demand," the ministry said. "More than 19,000 (relevant) jobs are expected to be created by 2020."

Four primary markets are Tanzania in Africa, Oman in the Middle East, Indonesia in Southeast Asia and Costa Rica in Latin America, it added.

South Korea is taking the initiative to create the Cybersecurity Alliance for Mutual Progress, a global partnership for cybersecurity. It is scheduled to be launched next month involving two dozen nations.


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