Korea to build 100M bps Internet system

This is unrepentant Keynesian industrial policy that flies in the face of neoliberal ideology. Yet I don´t know why it should be wrong.

"South Korea plans to build a nationwide Internet access infrastructure capable of speeds between 50M bps (bits per second) and 100M bps by 2010, the online edition of the Chosun Ilbo daily newspaper reported Tuesday. The infrastructure will be known as the broadband convergence network (BcN) and will offer telecommunications, broadcasting and Internet access from a wide variety of devices, the paper said, quoting the Ministry of Information and Communication.

Construction of the BcN will be worth 95 trillion won (US$80.4 billion) in output of equipment and services, and will create 370,000 jobs by 2010, according to the Chosun Ilbo. South Korea is already regarded as the world's leading broadband nation, with 11.3 million broadband subscribers in a population of 48 million, and with 85 percent of new subscribers opting for broadband, according to telecommunication equipment vendor Alcatel SA."