IT Industry Accounts For 10% of GDP
The information and telecommunication (IT) industry accounted for roughly 10 percent of the GDP (Gross Domestic Product), as industry sales and services increased significantly last year.According to the Ministry of Information and Telecommunication on December 8, the total revenue of the industry reached 90.2 trillion won in 1997, 16.3 percent more than that of 1996.
The value added amount of the industry reached 42.07 trillion won, approximately 10 percent of GDP (421 trillion won in 1997) and an 8.5 percent increase over last year.
The number of IT companies accounted for 1.5 percent of all companies and employed 4.5 percent of the total workforce.
with the Korea JoongAng Daily
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