3-D printers, drones get gov’t classificationThe government has officially recognized 3-D printers, drones and car tuning as “future growth industries.”
The categorization was part of revisions made to the Korean Standard Industrial Classification, which plays a significant role in assessing the nation’s industries and identifying viable fields.
This is the ninth revision to the industrial categorization system since it was first created in 1963. The last revision was made in 2007.
The government’s new “future growth” category also includes biofuels, carbon fiber, energy storage facilities, solar energy generators and electricity sales facilities like charging stations for electric vehicles.
Other new categories in service industries include mobile game software development and distribution, e-commerce, including social commerce and open-market operators, facilities management, real estate investment consulting and natural science and convergence engineering research.
Some existing classifications were split into more detail. The integrated circuit industry was split into memory semiconductors and non-memory chips. Plasma and flat panel displays have been diversified into OLED and others.
Even automotive parts, fruit/vegetable preservation and lunch boxes have been revised to more detailed classifications.
The Korean food industry has been split into four categories, including noodles, meat, fish and other food products.
The government either erased or merged different industries considered to be shrinking or losing relevance in 36 categories, including musical instrument manufacturing, watch making and traditional Korean lacquerware.
With the revisions, the classification now has 87 categories.
“The recent revision was made out of necessity based on the government’s policy of raising and supporting future growth industries as well as industries that can further improve the nation’s strengthen and mobility,” said an official from the Ministry of Strategy and Finance.
Statistics Korea said it expects the revision to not only contribute to increasing the credibility of the nation’s statistics but also secure consistency that will help the government evaluate and plan economic policies.
BY LEE HO-JEONG [firstname.lastname@example.org]