The following is an abridged version of a speech made by KT CEO Nam Joong-soo at the Forum of the OECD Ministerial Meeting Monday. ― ED.

The Internet as we know, has created changes in our daily lives. Yet, I believe the revolution has only just begun. In the future, Internet will impact our life styles through acceleration of growth. Creative convergence is a concept at the very center of this dynamic change.

I would like to define ``Creative Convergence'' as a process of creating new value by completely merging the unlimited resources of the Internet with existing industry and economy. Today, I'd like to share my thoughts on the Future of the Internet Economy, focusing on the concept of Creative Convergence.

The growth rate of the global economy over the past decade was 48 percent, and the growth rate of global e-commerce during the same period 12,700 percent. This clearly shows the growing economic impact of the Internet.

In the early stages, the Internet evolved through connectivity and communications based on network infrastructure. This phase is now over. The Internet has evolved and is now converging with other industries to pioneer new business models fueled by creative convergence. In this light, one of the new opportunities that we are pursuing is IPTV.

Worldwide IPTV subscribers are expected to reach 63 million by 2010, generating $27 billion. IPTV not only holds growth potential as a business, but also promises a significant contribution to society.

Another role the Internet needs to play is creating new benefits for the general public. During the course of its rapid development, the Internet has created a significant digital divide. In this day and age, this translates into an economic divide that becomes progressively more difficult to bridge.

To help address this issue, I launched the ``IT Supporters'' (ITS) program in 2007, consisting of 400 KT employees. Last year alone, over 150 thousand people received free education on how to use the computer, Internet and digital devices.

This effort will continue to even out the current imbalance in Internet usage that is often hidden behind the high penetration rate in Korea. The result will be an increased base of Internet users, facilitating the growth of new convergence models, in which the benefits can be shared evenly throughout the society.

It will eventually lead to economic independence and better quality of life for all of them.

ITS is a good example of creative efforts made by a corporation to improve social welfare through active knowledge contributions and gain confidence from the society.

I sincerely wish that this Seoul Ministerial meeting will trigger collaboration in
realizing this vision of Creativity, Convergence, and Confidence.

I'd like to close my speech with a quick reference to bibimbap, a popular Korean Dish.

Bibimbap is a dish made of different vegetables, meat and rice placed in a bowl. Once you mix all the ingredients, you will experience a totally new and different taste, similar to a convergence among industries. I hope you have an opportunity to enjoy this convergence dish during your stay here in Korea.