June 28, 2005
Korea Invests in RFID
The Korean government has decided to invest $800 million in research and development of RFID technology. Thus far the government has tested the technology for monitoring beef imports, luggage in several airports, and army ammunition inventories. Korea plans to deploy tracking in businesses and homes--even creating refrigerators that track food inventory. Production will begin next year in Songdo. The city is to receive funding from 2005 to 2010. Daeje Chin, Minister of Information and Communication, claims that the RFID industry is as important as the mobile phone industry proved to be. According to Silicon.com:
Chin said: "This will be very important for us in the next 10 years. The handset business is very big but RFID will be as important..."
Read more:Korea Dishes Out $800m on RFID
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