[The Chosun Ilbo, April 8 2008] Enthusiasm Wanes for IT Start-Ups

Enthusiasm for IT venture start-ups, which have served as a growth engine for tech-savvy South Korea, has been falling rapidly. According to the Korea Association of Information & Telecommunication, the number of IT start-ups totaled 3,941 in 2005, but that figure has declined for two consecutive years, to 3,842 in 2006 and 3,380 in 2007.