S. Korea aims to win greater share of global broadcast equipment market

By Lee Joon-seung
SEOUL, May 28 (Yonhap) -- South Korea will invest 546 billion won (US$427.7
million) over the next five years in building up its broadcast equipment industry
to win a greater share of the global market, the government said Thursday.

The Ministry of Knowledge Economy and Broadcasting and Communications Commission
said the funds will help raise domestic production and exports to US$1.5 billion
and $1.4 billion, respectively, by 2015. South Korea's global market share may
top 5 percent in the target year, from 1.1 percent tallied for 2008 when exports
reached just $362 million and production hovered at $625 million.
The worldwide market for broadcasting-related equipment topped $59.4 billion last
year, which is larger than both the semiconductor and display markets.
"The plan is designed to make full use of South Korea's strong information
technology base and to position the country to meet worldwide trends to
incorporate fully digitalized broadcasting systems," a ministry official said.
The support, focused on research efforts and quality assessments, could create up
to 10 companies that would enjoy global competitiveness by 2012, he said.
"Of the total, 180 billion won will be used to enhance cooperative tie-ups
between manufacturers and operators like TV stations, Internet broadcasters,
exhibition centers and other institutions that need such equipment," the expert
said.
The ministry in charge of the country's industrial policy and trade promotion
said that if the build-up plan moves on schedule, South Korea will be able to
replace imports with indigenously manufactured products that could pave the way
for exports down the road. Last year, 85 percent of the domestic market was
controlled by imports, with the country suffering a trade deficit of $610
million.
It said initial exports may aim to grab markets in Southeast Asia and Latin
America, where South Korea could offer "package deals" that would facilitate
sales of locally made equipment in exchange for the right to explore and develop
natural resources in these regions.
yonngong@yna.co.kr
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