S. Korea's data industry enjoys 14% on-year growth

A survey revealed that South Korea's data industry grew by 14.3 percent to 19.3 trillion won in 2020 from $17.4 billion in 2019.

The survey was conducted by the Ministry of Science and ICT and the Korea Data Agency on 1,364 of the country's 8,014 data-related companies between November and December.

The industry grew in 2019 by 8.3 percent from 2018.

Data sales and provision accounted for 9.4 trillion won, followed by data establishment and consulting with 7.4 trillion won.

The workforce in the data industry also increased by 6.2 percent last year to about 366,000.

South Korea is aiming to raise the size of the data industry to 43 trillion won and create 900,000 jobs from the industry by 2025.