From being an agrarian-based Japanese-owned colony that ended up becoming a battlefield. South Korea managed to get away from the Japanese clutches and stand on its own two feet. Not only that, it continued to strive for the better by investing in the right companies and improving each technology until the results could be seen first-hand for the rest of the world so that they could be green with envy. As a result, South Korea rose from the ashes like a Phoenix. It is currently giving other first-world countries a run for their money in terms of technological advancements.
Ranked as one of the most innovative nations, its achievements have been nothing less than remarkable. It ranks second only to Germany on Bloomberg’s 2020 Innovation Index. The 2019 Global Innovation Index places South Korea at number 11. Closely followed by Germany, ranked 29th among the 129 countries on the list. So, safe to say, South Korea has been providing quite the head-on competition to keep Germany on its toes.
The indices ranking prove that South Korea has been investing in its Research & Development quite enthusiastically, and the results are evident. Any essay writing service would say that the reason for that has been the influx of researchers who switched from the industry to academia, and their studies have allowed the country to prosper immensely.
The different mediums of interactions have allowed people to stay in touch and connected for the betterment; however, along with that, we have to deal with the cyberattacks that are growing day by day. The fact that these attacks are also improving along with the tech poses quite an alarming issue. So they must be dealt with swiftly. Hence, South Korea has focused a certain amount of its budget towards combating such cyberattacks.
Sure the advent of 5G allow the citizens of South Korea to be interconnected with one another at all times. But there’s also the risk of the networks getting intercepted and accessing confidential information stored on mobile devices. As a result, South Korea is the second-most exposed country to cyberattacks in the Asia-Pacific region. One prime example is the ransomware attack WannaCry of 2017 attempted by North Korea. Which affected hospitals, banks, and businesses, causing billions of dollars to be damaged. In addition, you can encounter phishing emails, malware, and various other kinds of cyberattacks.
South Korea has declared cybersecurity technology a matter of national security. As a result, the country reached out to other foreign countries and employed strict measures to curtail cyberattacks. As a result, there are nearly 531 registered cybersecurity firms at the moment in the country that is dedicated to taking care of such attacks diligently.
Artificial Intelligence (AI)
Over the last few years, South Korea has been tapping into the Artificial Intelligence potential and changing things around for the better for its citizens. In the process, it has managed to land itself as a global contender among the AI technologies markets of the world. The officials understandably see how revolutionary AI can be to the different sectors within the country. They certainly plan on exploring its use. As a result, they have huge plans to invest in the AI infrastructure and its technical service in other industries. For instance, the Digital New Deal proposes state-of-the-art industrial and educational advancements.
The government recently announced a fiscal 2021 budget plan that includes over $2 billion to be invested in AI-related projects. Another primary sector the government plans to improve happens to be the engineering gap. In terms of experience and skill for AI, it has introduced programs in ten different universities to bridge the gap by breathing knowledge into the youth to spark their interest. Furthermore, the country encourages people to establish AI businesses which will be supported through incubation programs funded by government agencies.
To name-drop a few companies: Samsung has contributed to AI advancements through AI Chip and On-Device AI. In addition, LG Electronics, Kakao, and Naver have also invested significantly into South Korea’s AI programs.
With most countries opting for cloud services, how can South Korea stay behind? Korean enterprises and government facilities have been switching over to the cloud at an impressive rate.
The cloud computing services of the country alone is bound to top other countries in the IT sector. South Korea possesses such a strong resolve for conquering the IT sector that despite the COVID restrictions, the cloud computing market gained a 19% increase compared to last year. It is estimated to grow at a steady rate of 16% yearly until 2022.
One of the most fabulous things about the South Korean government is once it sets its eyes upon something with a promising future, it tries its best to make the most of the technology.
To give a brief overview, the government decided to switch to cloud computing in 2015. Since then, every year or so. It has come up with guidelines to secure and promote the use of private and public cloud services. It has even designated the financial sector to store confidential information on the cloud while providing extra measures of cybersecurity technology and threat prevention.
Cloud Computing for Web Services
South Korea has paved the way for global players like Google, Microsoft, and Amazon Web Services to lead its cloud computing market and investing quite a heavy sum at the same time. AWS inaugurated its third data center in Korea. Microsoft has plans to open its third data center in Busan. Google established its first data center in Seoul earlier in 2020.
With names like Google and Microsoft entering and exploring South Korea. There’s no denying the huge plans they have for the country. The fact that the country itself continues to push relentlessly. Paying no heed to the competition at hand is a huge factor that’s likely to pay off. So UK Essay Writers would just like to wait and watch how South Korea plans to conquer the technological world soon.