The introduction of the iPhone by Apple will likely pave the way for a new market in South Korea worth 2.6 trillion won (US$2.2 billion) over the next two years, a market report said Sunday.

According to the report by Digieco, an economic research center under KT, the iPhone’s release will expand the domestic wireless market by 1.9 trillion won, while creating a new software market worth 470 billion won.

A new market for accessories and devices related to Apple’s flagship product will be worth 238 billion won, it added.

KT, South Korea’s dominant fixed-line operator and second-largest mobile carrier, brought the iPhone to the domestic market in December in an exclusive contract with the Cupertino, California-based company.

The report said the expansion of the software and content market will create 4,900 additional jobs in the information and technology sector between 2010 and 2012.

The report by the KT research center also forecast that about 17 in every 100 mobile phone subscribers in South Korea will be using smartphones by 2012. Last year, one in every 100 mobile phone subscribers owned a computer-like handset device.

Mobile advertising markets will also sharply grow from 9.8 billion won this year to 41.9 billion won in 2012, the report said.

YonhapNewsAgency

Related posts:

1. KT to Release iPhone in Korea KT, South Korea’s largest broadband Internet operator, said Sunday it will start selling Apple’s iPhone handsets here this week, a...
2. KT Aims to Sell up to 500,000 Units of iPhone : Prudential KT, the South Korean distributor of Apple’s iPhone, is shooting for total sales of 500,000 units of the smartphone slated...
3. Top 5 expected impacts of iPhone's release in Korea The Telecom regulator is allowing the iPhone’s release with a minor condition, now the long-anticipated release of the popular phone...