THE KOREA ECONOMIC DAILY, GLOBAL EDITION

The size of South Korea's data industry market is expected to exceed 25 trillion won ($18.96 billion) last year.

According to the results of a survey on the current status of the data industry in 2022, released by the Ministry of Science and ICT and the Korea Data Agency on Tuesday, the size of the data market in 2021 was estimated to be 22.9 trillion won ($17.37 billion), and the estimated figure for last year was 25.05 trillion won ($19.0 billion).

The ministry reported that the size of the market has shown a steady growth rate of 11.9% on average over the past three years.

The number of people working in the data industry last year increased by 12,000 from the previous year to 406,000.

The survey was conducted by surveying a sample of 1,375 data industry companies selected from among 8,940 companies and 1,200 other industry samples through a questionnaire.

Write to Seung-Woo Lee at leeswoo@hankyung.com