Korea's information technology (IT) industry is expected to grow nearly 4 percent in 2013 from this year, fueled mainly by the development of new products, the government said Thursday.
The local IT sector will likely expand 3.7 percent from this year to 344 trillion won ($308 billion) in the coming year, the Ministry of Knowledge Economy quoted Jeon Sang-hyun, vice chairman of the Korea Electronics Association, as telling an industry conference on Wednesday.
"The domestic IT market will likely grow 0.6 percent this year, due to weak exports and a decline in product prices," Jeon said. "The industry, however, will likely turn for the better next year on the expansion of new premium products."
IT products are South Korea's key export items. The country's trade balance in the IT industry posted a $7.41 billion surplus last month, compared with a surplus of $6.85 billion in August.
Jeon also forecast the world's IT sector is likely to increase 4.4 percent on-year to $3.79 trillion next year. (Yonhap)