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S Korea set to pump almost $70M into digital signage

South Korea's ICT ministry has announced plans to spend 78.9 billion won (US $67.3 million) through 2018 to help foster the digital signage industry, according to the Yonhap News Agency.

December 28, 2015

South Korea's information and communications technology ministry has announced plans to spend 78.9 billion won (US $67.3 million) through 2018 to help foster the digital signage industry as part of its broader efforts to nurture new growth engines, according to a report from the Yonhap News Agency.

The ministry predicts the move to generate 5.5 trillion won of production and create 30,000 more jobs by 2018.

The global market for digital signage stood at $15.1 billion in 2014, but is predicted to gradually increase to $31.4 billion in 2020, the ministry said in the report, adding that the industry will grow as another key area of the ICT segment going forward.