Korean reunification: an approach toward gradual economic integration

The Park Geun-hye administration is steadily releasing more details about its policy on national reunification.  As reported in the Korea Joongang Daily, the topic of reunification finance has attracted attention both at home and abroad since President Park's major address recently in Dresden. The Korea Joongang Daily reported on a speech by Shin Je-yoon, chairman of the Financial Services Commission in which he indicated that the Korean government will help attract foreign capital into North Korea if the regime opens up its economy. “For now, we don’t encourage investment, because they don’t have basic legal structures yet. If they open the market to global markets, then we will help them induce foreign investment for development. “If those kind of basic areas like legal services or consulting services by commercial entities like investment banks are prepared, we will encourage foreign investors to make investments. We are always ready to help,” he added.  Also in his speech at the 2014 Korea Economic Forum hosted by the newspaper,FSC Chairman Shin proposed four key tasks in preparing for unification in the financial sector: resetting the monetary system, adjusting the exchange rate system, reforming the financial infrastructure and financing development needs.

Minister Choi stresses public-private cooperation at inaugural meeting of IT Strategy Commission

Earlier this week the newly formed IT Strategy Commission (mentioned in this earlier post) held its inaugural meeting. Organized by the Ministry of Science, ICT and Future Planning and headed by the prime minister, the commission includes researchers, private companies and economic experts.  As reported by The Korea Joongang Daily, Minister Choi Mun-kee emphasized the importance of public-private cooperation in his speech as follows. “The public and private sectors have to cooperate through the IT Strategy Commission. The commission aims to resolve urgent problems - low growth, job creation, low fertility, the aging society and reunification with the North - that our society is facing and to accelerate economic growth.” The plan announced at the meeting is part of the government’s investment of 1.4 trillion won ($1.4 billion) over three years in an ICT technology development policy package that includes supporting the software industry and commercializing the superfast 5G network, Internet of Things and ultra high-definition broadcasting.

Disaster at sea in the information age

The tragic sinking of the ferry Sewol in mid April and the heartbreaking loss of so many high school students who were onboard has gripped South Korea and also the entire world.  It is beyond words to describe, especially in a short blog post.  I would simply note that the entire tragedy is profoundly conditioned by this countries advanced digital broadband networks.  Already, the public here and the whole world has gained insight into what occurred as the ferry sank through videos recorded on smartphones, which are universally used by high school students these days.  The loss of young people, especially students, strikes a universal chord all around the world, but most especially in this nation which places such a high value on the education of its youth.

Samsung begins mass producing 3-bit per cell solid state drive (SSD)

As reported in The Korea Times and other local sources, Samsung electronics has begun mass production of its 3 bit per cell solid state drives for data centers.  This move will have direct implications for the consumer market as SSDs are increasingly popular in the lightweight notebook segment.
As reported by the Korea IT Times,"Since it first produced the 3-bit NAND-based 840 EVO SSD in 2012, Samsung has taken the lead in providing SSDs for ultra-slim notebooks and PCs. With the PM853T, it has now secured a strong foothold for high-efficiency SSDs in large data centers."

Journal of Communication publishes review of Digital Development in Korea

The Journal of Communication has just published a review of my 2011 book (paperback edition published in 2013) with Dr. Myung Oh, Digital Development in Korea:  Building an Information Society.  The review is written by Professor Sung-Young Kim of the University of Auckland in New Zealand, who himself is conducting important research on the growth and development of Korea's ICT sector.  The following paragraph is an excerpt from the review:

"To those interested in the field of Communication, Oh and Larson offer an in-depth discussion of how governmental actors sought to bring into reality an information society and in many ways to lead the world in such a project. Beyond studies of Communication, this study will be of interest to writers in comparative political economy especially in relation to industry policy in Korea. The authors also offer clear lessons for policy practitioners in developing countries who seek to follow in Korea’s footsteps in building a domestic presence in the ICT sector. Officials in strategically oriented governments at a similar advanced level of industrial development should also be interested in this study’s focus on the institutions useful for technological upgrading."