Nothing better captures the development vitality that spur South Korea to resume itself from its economic crisis than the information technology industry. This ultramodern high‐technology industry in the area of dynamic random access memory (DRAM) chips, transistor liquid‐crystal displays (LCDs), code division multiple access (CDMA) cellular phones, monitors, PCs, and other electrics‐electronics have served as the engine of growth in the process of economic recovery. Have these industries grown enough to compete in the global market? Would it be realistic to assume that the development of these industries has been conducive to industrial upgrading in the world stratification system? What domestic and international factors are involved in this notable achievements of this industry?