An Analysis of the Economic Effects for the LBS-related Industry in Korea

This study reclassifies sub-sectors of the LBS related industry based on the definition of product and services defined above, and it uses the RAS technique to broaden a scope of an input-output table to include the LBS related industry with purpose of analyzing economic effects industry will encounter during 2017~2020.Results show that investment in the LBS related industry during 2017-2020 induces total economic outputs to KRW 2,057.7 billion and is expected to employ annually 4,567 workforce.