South Koreans could see 1Gbps web connections by 2012

The world at large still has aways to go before it catches up with Sweden's Sigbritt Löthberg, but South Korea's hoping to take a baby step in that direction by 2012. According to a new proposal by the Korea Communications Commission, it's aiming to make broadband ten times faster in its nation in under three years, and according to the plan, it'll take some $24.6 billion in order to make it happen. The central government is looking to cough up around a third of that, with the rest having to come from private telecommunications companies. We're told that the initiative could create upwards of 120,000 jobs, and citizens will be able to kiss their 100Mbps connections goodbye as they replace 'em with 1Gbps alternatives. The KCC hopes the move will enable more interactive TV services to be delivered along with additional e-commerce and home schooling; South Korean residents, however, are probably just stoked about lowering their ping times.

[Via GigaOM]