The IDB and KCC will work together on setting up strategic ICT frameworks in the areas of telecommunications, broadband connectivity, infrastructure, regulation, development of public policies, and productivity. Joint efforts will improve the competitiveness of firms, the quality of life and create and promote economic opportunities by using ICT.
Additionally the IDB and KCC will cooperate in the exchange of information and best practices; identification of innovative applications and services in key sectors, such as energy, health, education, trade and government; and the exploration of opportunities for business and social innovation. The initiative will foster exchange of staff and knowledge among the two organizations through secondments, development of knowledge products and technical assistance.
The KCC is the government bureau of the Republic of Korea in charge of information and communications technology and policies in the area of telecommunications, including broadcasting, broadband, Internet, mobile, security and convergence.
The IDB, the leading multilateral financial institution for the development of Latin America and the Caribbean, supports ICT growth throughout the region, bringing its own extensive expertise and resources to the partnership. The IDB promotes the use of ICT for social and economic development purposes, with special emphasis on accelerating broadband development as a general purpose technology platform for innovation.IDB activities with the ICT activities include strengthening of innovation and technological capacities in the region, improvement of access, use and adoption of these technologies, increasing innovation efforts among firms and promoting entrepreneurship