Government Policy Trends in Korea’s Software R&D

The project called World Best Software (WBS) that is setting the stage for Korea to become a software power is currently in the final stage. It is not common for domestic software to be greeted in the global market with success. Even in the domestic market, over 80% of our software is controlled by foreign companies. For three years now the government has been working on WBS as a business-centered project, targeting the world market from the planning stage in order to break through the status quo of Korea’s software. Currently, Korea hasn’t created well-known global brands except for Samsung and LG. The large-scale project has been promoted so that domestic software companies can focus on research and development with a long-term prospective by reducing the burden to make short-term profits.

The WBS project was designed in consideration of various factors to improve the industrial competitiveness of our software companies including supporting the development by small- and medium-sized companies. It will be finished by 2013 after investing 160 billion won over the course of three years.

The WBS project is led by companies in order to create practical outcomes from the development. It allowed for the development of software that meets the market demand by letting individual companies participate in the development consortium. The National IT Industry Promotion Agency (Nipa) took charge of the quality control in all of the development stages. This was done to prevent a case where nobody pays attention to the development outcome in the market due to the hit-or-miss development practice, or having no management system in place. These measures are all for the sake of the development of quality software required in the global market. The project also motivated the development urge of software companies by granting the intellectual property rights resulting from the process of technology development to the actual software development companies rather than the agency in charge of the project. Each software company will be able to get the intellectual property for their share of development.

For full report see Korea IT Times.