South Korea should focus on cultivating software talents and relax regulations on the information and communication industry if it wants to survive in the fast-changing global IT industry, a presidential council reported Tuesday.

The President’s Council on National ICT Strategies made the suggestions during a report to President Lee Myung-bak, stressing that South Korea, once considered an IT power due to its advanced hardware technologies, is fast losing ground in what is now a software-centered industry.

ICT is a short for information and communication technology.

The council said the world ICT industry is undergoing rapid changes with “global platforms,” such as Google, Apple, Amazon and Facebook, taking center stage, but South Korea has failed to find its place in the global competition.

Worsening the situation is the dwindling popularity of the ICT sector among younger South Koreans, the council said, calling for expanded benefits to lure more talented people to the industry.

It also called for easing regulations on the industry.

After receiving the report, Lee stressed the importance of making the ICT sector a more attractive industry in which to work, saying the government should make greater efforts to create a better industry environment and infrastructure, according to presidential spokesman Park Jeong-ha.

Lee also instructed officials to check if there are excessive regulations on the industry. 

(Yonhap News)