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Title Culture Technology Forecast Brightens Dreary Winter 2008.12.09

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Culture Technology Forecast Brightens Dreary Winter - Promoting Hallryu (“Korean Wave”): Committee Looks at Culture Contents. - Cultural Technology (CT) is the way to survive the economic meltdown as the IT Industry was in 1997-1998 Asian financial crisis Chairman of Special Committee on Cultural Industry of the Federation of Korean Industries, Younghoon David Kim hosted the final meeting of the year for the Special Committee on Cultural Industry on December 4. Chairman Kim stated, “Although the figures for Korea’s economic growth, the exchange rate, and the KOSPI look grim, we should remember how the United States dealt with the Great Depression by transforming its manufacturing-oriented economy into a service-oriented economy.” He added, “The United Kingdom survived the turmoil of the financial crisis with its contents industry.” Chairman Kim emphasized that, “We overcame the painful financial crisis in the late 1990s with our IT industry. In the current situation, the CT industry should play a key role in Korea’s economic recovery.” Further he offered his encouragement by noting, “The CT industry can be ‘one source multi use’ thus a high value-added CT industry will create a positive ripple effect on the overall Korea’s economy.” He also make it clear that the committee should play the role of bridge between the private sector and the government as well as solicit a variety of ideas necessary for the development of the CT industry. In addition, discussion on the presentation entitled, “Development Plan through Analysis of Hallryu’s Economic Effects” was held as a part of the meeting.
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