Gov¡¯t to invest 100 bil. won in audio information industry by 2003

The government announced its intention Thursday to foster the audio information industry as a strategic industry for the 21st century.

The Ministry of Information and Communication said that by 2003 it plans to pour about 100 billion won into projects to develop core technology for audio information disposal, construct audio data-base (DB) and foster audio-related small- and medium-sized firms and venture companies.

By sector, it will spend 19.3 billion won to develop core technology for audio information disposal and 3.1 billion won to establish the ¡°University Audio Information Technology Research Center¡± for the development of basic technology at universities and the fostering of competent manpower.

To groom small- and medium-sized firms and venture companies in the audio information field, it will also extend 70 billion won in short-term loans for the development of new audio information technology and practical ways to deliver related services.

At the same time, the ministry decided to make public the audio information DB jointly developed by the Electronics and Telecommunications Research Institute (ETRI) and Korea Telecom. Under the government-funded research project, the ministry will invest an additional 6 billion won by 2003 in technology development.