[Editorial] WiBro: Korea’s Hope

Wireless Broadband (WiBro) is a wireless broadband Internet technology that uses frequency bands for wireless communications. It is fourth-generation (4G) mobile technology that will open the era of the ubiquitous Internet. Samsung Electronics has joined hands with Sprint Nextel, Intel and Motorola to successfully introduce WiBro to the U.S. market, thereby gaining a foothold to WiBro becoming an international standard. It is truly a remarkable achievement that gives a ray of hope to the Korean people who are suffering from a sluggish economy and the scorching heat.

The United States is a telecommunications powerhouse where telephones and the Internet were first developed and is the biggest market for telecommunications in the world. As the U.S. introduced WiBro, which Samsung Electronics developed with its own technologies, countries around the world are expected to queue up to choose the WiBro standard. If WiBro services are commercialized, people can have access to the Internet in moving cars and on subways. A variety of adjunct services such as on-demand videos, two-way games, and web broadcasts will also be available to people in motion. From 2006 to 2012, the market for WiBro systems and platforms is expected to add 270.000 new jobs to employment and 33.86 trillion won in a production inducement effect in Korean economic sectors, including small and medium-sized businesses that produce equipment, parts or content. We’re now watching this new growth engine industry which will provide for our next generation brighten the future of the Korean economy.

This is really a great feat which reminds us once again that “businesses are the hope of this nation and the people.” The force that leads the economy comes from our businesses. Notwithstanding Korean politics mocked as fourth class and administration called third class, there are world-class global companies in Korea and this achievement was possible because of them.

Without businesses that pioneer uncharted territory striving to develop industries that put food on the tables of Koreans, the livelihoods of the people would not improve no matter how loudly slogans of “wealth distribution” are heard. The government has to spare no efforts in helping our businesses make investments with confidence, develop new technologies with creativity and make their ways through the world market to the fullest.

Unfortunately however, the government is doing the opposite. It is holding back our businesses wielding chains of regulations. If we go down the path of regulations and anti-business sentiment as we do now, it would be hard to expect new growth engines such as WiBro to appear continuously. The more stones we throw at businesses like a person who wants to take out his resentment on something, the more we’ll drive away domestic and foreign capital as well as talented people that grow the value of the money, resulting in shrunken economy and livelihoods.