< The President Visits an IT Venture Business, the Core of a Creative Economy >

   President Park Geun-hye made a visit today to Alticast, a midsize venture business specializing in the convergence between IT and broadcasting and telecommunications services, the core feature in promoting the creative economy. There, the President had a chance to listen to the real stories of workers about their needs and concerns and to cheer them on.

Present at the meeting with the President were Minister of Knowledge Economy Yoon Sang-jick, President Nam Min-woo of the Korea Venture Business Association, Chairman Cho Hyun-jung of the Korea Software Industry Association and President Park Soo-yong of the National IT Industry Promotion Agency as well as the executives and all staff members of Alticast.

President Park began by holding a meeting to listen to various opinions from the participants and gather their policy suggestions. Subsequently, the President attended a demonstration of convergence services, such as N-Screen, encompassing information, broadcasting and telecommunications. Lastly, at a meeting with young developers, President Park conversed about the joys and sorrows of work life and their dreams and visions in a frank manner.

Participating CEOs put forward various suggestions to tide over the difficulties facing many venture businesses. Among other things, they noted that the government role is critical in fostering a viable ecosystem for the convergence of information, broadcasting and telecommunications. In this context, they proposed that the Government should increase its assistance in expanding investments in venture startups, nurturing software professionals and helping small and medium-sized venture businesses make inroads into foreign markets.

The President responded, “In order for our creative industries to develop, innovation in the private sector must be accompanied by the Government effectively utilizing promotional and regulatory policies to provide timely support for business growth.” She added, “The Government will spur technological development as well as improvements to the legal system for the establishment of a new convergence services market. In this way, the Government will actively work to create an ecosystem that will enable Korean companies to stay competitive in the international market.”

During this conversation with the employees, the President also said, “Our future depends on the efforts of creative companies and talented people such as yourselves.” She expressed appreciation for their hard work at developing original technology in the information, broadcasting and telecommunications sectors as part of Korea’s efforts to advance into the international market.

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