Thursday, July 7, 2011

World Headlines: Shaw Capital Management : NEWS

Even though South Korea already claims to have the world’s fastest Internet connections, that isn’t enough for their growing government.
According to the The New York Times, by the end of 2012 South Korea hopes to connect every home in the country to the Internet at one gigabit per second. This would make them more than 200 times as fast as the average house in the United States.
A pilot gigabit project initiated by the government is under way, with 1,500 households in five South Korean cities wired. Each customer pays about 30,000 won a month, or less than $27.
The United States is now behind Latvia and Romania in terms of Internet speed. South Korea, Hong Kong and Japan make up the top three.
A possible worry that comes with the faster connection is Internet addiction. Deprogramming camps in South Korea have already been developed to help those addicted.
The idea of the gigabit Internet is not a new one, said Mr. Norman, the American consultant. But large-scale adoptions have not yet taken hold, especially outside Asia.
Japan and Hong Kong already offer gigabit service. Australia is working on a plan to offer it by 2018, Google is trying pilot programs for part of the Stanford campus and other areas in the United States.
Expenses are an area of concern for growing Internet connections. The overall cost for South Korea’s project is estimated around $24.6 billion.
Even though South Korea already claims to have the world’s fastest Internet connections, that isn’t enough for their growing government.
According to the The New York Times, by the end of 2012 South Korea hopes to connect every home in the country to the Internet at one gigabit per second. This would make them more than 200 times as fast as the average house in the United States.
A pilot gigabit project initiated by the government is under way, with 1,500 households in five South Korean cities wired. Each customer pays about 30,000 won a month, or less than $27.The United States is now behind Latvia and Romania in terms of Internet speed. South Korea, Hong Kong and Japan make up the top three.
A possible worry that comes with the faster connection is Internet addiction. Deprogramming camps in South Korea have already been developed to help those addicted.
The idea of the gigabit Internet is not a new one, said Mr. Norman, the American consultant. But large-scale adoptions have not yet taken hold, especially outside Asia.Japan and Hong Kong already offer gigabit service. Australia is working on a plan to offer it by 2018, Google is trying pilot programs for part of the Stanford campus and other areas in the United States.
Expenses are an area of concern for growing Internet connections. The overall cost for South Korea’s project is estimated around $24.6 billion.

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