The Sept. 20 edition of Fortune states that Korea will replace the United States as the world’s most influential nation, at least in the digital world . The magazine cites as reasons: government policies, competition between companies, and Korea’s particular culture.
Specific reasons for Korea’s digital success include the following:
- Government stated & sponsored goal to become a “knowledge superpower”
- Removal of excessive regulations
- Active financial support for corporate investment in the Internet and communication sectors
- Maintenance of low prices through “vicious competition” among corporations.
The article concludes by saying “Korea is pushing ambitious plans to install a 100-megabyte-a-second high-speed cable by 2012 and incorporate 10 million people into “Smart Homes” in which appliances are controlled by the Internet”.
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