The government plans to spend a total of eight-and-a-half trillion won over the next five years to promote research and development of the information and communications technology (ICT), a key sector for the government’s creative economy.
 
The Ministry of Science, ICT and Future Planning said Wednesday it will generate production worth 12-point-nine trillion won and added value worth seven-point-seven trillion won. It said it will also create 180-thousand jobs by converging the ITC sector with other industries.
 
For its mid- to long-term R&D strategy for the ICT sector, the ministry said it will raise the technology transfer rate from 18 percent to 35 percent within five years, and also seek to emerge as the world’s fourth in the rankings of international patents.
 
Under the plan, ten ICT-related key sectors, such as holograms, big data and information security, will be fostered into the nation’s new growth engine industries.
 
In addition, the ministry plans to form an ICT advisory group under the ICT committee, which will be set up at the Prime Ministers’ Office in February next year. The group will identify new ICT projects and coordinate views of different ministries.