The rise of Korean electronics
The Olympic Games Seoul 1988 accelerated the growth of technological expertise in Korea. As a result, the country has been considered as one of the world’s electronics leaders. In 2019, Korea was ranked as the most innovative country in the world, according to the Bloomberg Innovation Index, holding the title for the sixth consecutive year.
In 1988, the growing integration of computer and communication systems to provide the results of the Olympic Games required investments in digital innovations that contributed to the improvement of Korea’s technological know-how in the electronics industry. The Olympic Games 1988 encouraged the use of local electronic equipment, which in turn boosted national electronics industry sales. To better manage the complexity of the Olympic Games’ technological needs, the Seoul 1988 organisers created a dedicated technology committee that provided advice on planning, selection of equipment and related technology matters.
The investment of the electronics industry in Olympic Games-related projects included USD 550 million for production and USD 145 million for value-added processes. It created 20,744 jobs and accelerated Korea’s leadership role in the industry.