KISA "Domestic Location Information Industry Sales Expected to Reach 1.84 Trillion Won"

"Big Data Analysis Services to Be Most Active Within the Next 1-2 Years"

[Asia Economy Reporter Jin-gyu Lee] The domestic location information industry is expected to grow to a sales scale of approximately 1.84 trillion KRW.

The Korea Internet & Security Agency (KISA) announced the results of the "2019 Domestic Location Information Industry Trend Survey" on the 21st to understand the scale and status of the domestic location information industry.

According to the survey, last year the domestic location information industry’s sales amounted to 1.5918 trillion KRW, and this year it is projected to increase by 250 billion KRW to 1.8418 trillion KRW. 65.4% of respondents predicted that "big data analysis services" will be the most active sector within the next 1 to 2 years.

Respondents identified 'transportation (41.8%)' and 'logistics (40.0%)' as the fields expected to develop in convergence with location information. The management difficulties faced by location information businesses were found to be "domestic laws and regulatory restrictions (21.1%)" and "infrastructure construction (16.2%)."

Seung-wan Chae, Head of KISA’s Data Safety Utilization Support Group, stated, "Although we are laying the foundation for activating the use of location information through deregulation of market entry, customized consulting for companies, and support for startups, continuous support is necessary."

This content was produced with the assistance of AI translation services.