August 19, 2006
South Korean Government to support wearable technology
According to the Sydney Morning Herald, the South Korean Government will support the development of wearable technology and smart clothes. Although there are no details yet on how the government plans to support or drive research in these areas, an official at the Ministry for Commerce and Industry said that research and development in these markets was too important to “be left to the market only”.
The government estimates that by 2014, the wearable market will have grown to US$ 7 billion and hopes for a market share of more than 20%.