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S. Korea to up national information budget to W5.1tr in 2019

South Korea's budget for national information will rise to over 5.1 trillion won ($4.3 billion) in 2019 to promote the building of a hyperconnected society, the government said Monday.

The budget to be spent for 55 state central administrative agencies represents an 11.5 percent increase from 4.6 trillion won earmarked for this year, according to the Ministry of Science and ICT.


(Yonhap)
(Yonhap)

A hyperconnected society is a key element of the fourth industrial revolution where everything, including people, is linked together through the internet of things, artificial intelligence and robotics. This connection can create new growth opportunities across the board and bring about changes in such areas as public services, manufacturing and transportation.

The ministry said that for next year, greater emphasis has been placed on AI, big data utilization and intelligent information technologies.

Of the funds, roughly 25 percent or just under 1.3 trillion won will be spent on intelligent information technology projects, up 2 percentage points from 2019, with 266 billion won to be used to introduce next-generation administrative information systems. (Yonhap)

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