South Korean Government Pumping $67 Million USD Into Country’s Digital Signage Industry: Report

skrwelcome

South Korea’s ICT ministry said Monday it will spend 78.9 billion won (or $ 67.3 million USD) to nurture the digital signage industry in that country, apparently seeing the sector as a growth engine.

The report, in the Korea Herald, says that the ministry will, through 2018, plans to expand support for start-ups involved in the business, and abolish unnecessary regulations.

While two of the giants in LCD displays are based in S. Korea, the country is not known – really at all – for other aspects of the signage eco-system – hardware, software or creative. I was there for a week, about a year ago, and was somewhat mystified about how undeveloped the signage market was in the land of Samsung and LG. This, for example, is how wireless carriers in Seoul market products, plans and services at their stores (below). All paper. No screens. I was told that was the norm, and this was at Seoul’s main rail station.

skphonestore

If it is real money and not just tax concessions for the big guys, it could be very good news for some smaller firms trying to get R&D money. How the government settled on signage as a key driver – and not a pile of other emerging technologies – is a bit of a mystery.

Whoever controls these dollars could probably use some good consulting advice from someone who really knows the business. Nudge. Nudge.

 

 

 

Dave Haynes

Dave Haynes

Editor/Founder at Sixteen:Nine
Dave Haynes is the founder and editor of Sixteen:Nine, an online publication that has followed the digital signage industry for more than a decade. Dave does strategic advisory consulting work for many end-users and vendors, and also writes for many of them. He's based near Toronto.
Dave Haynes

@sixteennine

Decade-old blog about digital signage and related tech, written by industry consultant and shit-disturber Dave Haynes.
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Dave Haynes

2 Comments

  • Matt Silva says:

    “Whoever controls these dollars could probably use some good consulting advice from someone who really knows the business. Nudge. Nudge”

    Ha!

  • Editor says:

    This is Korea, though. The money is far more likely to go to the giant chaebols’ in-house digital signage divisions than to help out any startups.

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