South Korean software companies secured a record USD 810 million worth of foreign orders in the first five months of the year thanks to improved global competitiveness, the government said today.
The Ministry of Knowledge Economy said the total size of software business orders in the January-March period represents a gain of 124 per cent from USD 360 million tallied for the same period in 2009.
The amount also exceeded the USD 760 million worth of orders clinched for the whole of last year.
At the present pace, the size of software service orders won by local businesses could surge to USD 1.3 billion, the highest since the country started compiling data in this sector in 2008, the ministry said.
Improved competitiveness of local software service providers in overseas markets compared to rivals and the winning of big projects contributed to the gains, it added.