Native Expertise on Korea and East Asia: SERI Quarterly

February 23,2012

Facts & Figures

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Volume 5 Number 1
	Asian IT at a Crossroads: Where is it headed? FEATURE The IT Industry in Northeast Asia: Present and Future Korea’s IT Industry in Transition The Rise of China’s IT Industry Japan’s Position in East Asia’s IT Industrial Networks

January 2012 The Impact of Resource Misallocation: The Chinese Example Productivity is the central issue in increasing national wealth, and allocation of resources is central to productivity. China’s growth into an increasingly productive economy furnishes a prime example of the way in which correcting inefficient distribution of resources, in this case from state owned firms to the private sector, has contributed to increased productivity and growth.

January 2012 Exporting Korea’s Urban Development Expertise Korea has experienced one of history’s most rapid transitions from a rural to an urban society. Along the way, Korea gained valuable experience on what to do and what not to do for other societies currently making the transition. Today Korean firms are using the expertise they gained at home in the wave of urbanization taking place in emerging markets.

January 2012 Samsung’s Smartphone Operating System: bada The smartphone revolution has till now come mostly in three flavors: iOS, Android, and Blackberry. Samsung Electronics’ bada powered smartphones, however, are making a major dent in the market. Samsung’s bada phones are gaining ground on their accessible interface, familiar development environment, competitive prices, and wide app selection.

January 2012 Incheon International Airport Corporation Incheon Airport has become a traveler’s favorite, and has been named the World’s Best Airport for six years in a row. Meticulous attention to customer service and employee satisfaction, as well as innovations in producing revenue streams have made the airport a role model to benchmark. Incheon now consults other airports on the techniques that have made it a success.

Economy

January 2012 Mild and Sustained Deflation in Japan Prices in Japan have been undergoing consistent deflation for more than 15 years. Various theories have been proposed to account for this phenomenon, including monetary policy, and liquidity and deflation traps. Japan can begin to address its deflation by allowing more inflation, preventing asset bubbles, and pursuing structural reforms.

Business

January 2012 New Business Applications for Social Networking The social networking era is now in full swing in Korea, and businesses are eagerly testing the waters. Social networking is now used for everything from arts funding, to customer service, to market research. Businesses, however, need to be careful to respect privacy, and carefully navigate the pitfalls of two-way communications.

Consumer and Society

January 2012 Intensifying Consumption Trends to 2020 Using data from 10,000 Korean households, SERI has identified seven trends that will drive consumption in Korea over the next decade. Underlying themes include preparing for uncertainty and increased desire for personal fulfillment. Areas like insurance, lifelong learning, and customized housing stand to benefit the most from changes ahead.

North Korea Bulletin

January 2012 North Korea’s Provocations and South Korea’s Stock Market Among ten provocations from North Korea since 1998, eight shook the South Korean stock market. The North’s long-range missile test in 2006 and its second nuclear test in 2009, however, saw both domestic and foreign stock markets defying forecasts. In both these cases, advance warning and Seoul’s own reaction were key determinants.

January 2012 The Korea-Russia Gas Pipeline Project: Past, Present, and Future While the proposed gas pipeline from Russia to South Korea through the North has undergone many changes since its inception, the economic interests of all sides continue to make it a high priority project. With Russia and North Korea standing to benefit economically, and with South Korea set to gain reliable supplies of gas, prospects for the project’s completion look bright.

Sukwoo HONG on Korea’s IT Future SERI spoke with the recently appointed Minister of Knowledge Economy on Korea’s outlook for trade in general, and IT exports in particular. HONG expounded on Korea’s plans to reach $2 trillion in trade, the need for Korea to pay more attention to software, and Korea’s plans for new areas like cloud computing.

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