The world before COVID-19 will never return.
Non-face-to-face communication is on the rise, but physical business is taking a hit.
The online economy will be revitalized, spurring the Fourth Industrial Revolution.


As of the 6th, the cumulative number of confirmed COVID-19 cases worldwide exceeded 26 million. The death toll surpassed 1 million, and the fatality rate reached 2.94%. In South Korea, the cumulative number of confirmed cases exceeded 24,239, the number of deaths exceeded 422, and the fatality rate exceeded 1.74%.

Currently, more than 200 COVID-19 vaccines are being developed at an unprecedented pace. However, even once a vaccine is developed, challenges remain, including mass production, securing vaccine and container materials, storage, and establishing vaccination procedures. The belief that a developed vaccine will completely end the COVID-19 pandemic is overly optimistic.

Kwon Jun-wook, Deputy Director of the Central Disaster and Safety Countermeasures Headquarters of the Korea Disease Control and Prevention Agency, impressed upon the public the fact that the world has completely changed when he said in April, “The world before the COVID-19 outbreak will never return.” Society and businesses are accelerating digital transformation to adapt to changing environments.

In September, the National Research Foundation of Korea (NRF) published a report titled “COVID-19 and the Acceleration of Digital Transformation,” stating that “the social atmosphere created by COVID-19 around the world has led to a decline in trust between people and countries, as well as conflict between citizens and governments.”

He analyzed that "the emergence of new national policies, corporate responses to changes in work styles, and analysis of new consumption patterns and corresponding responses by individuals" increased the acceptance of digital transformation.


COVID-19 Accelerates Digital Transformation in Industry
AI technology is being utilized to detect, diagnose, predict, and prevent viruses, as well as analyze and learn various types of information to aid the recovery of confirmed cases. Stable network infrastructure supports individuals practicing social distancing, allowing them to continue their daily lives without losing their existing connections.

Companies focused on software and IT businesses have benefited from the growing demand for online education, video, and gaming, but those providing community-based physical services have been hit hard.

Uber had to bolster its delivery service, Uber Eats, as average ridership declined by 80%. Chinese bike-sharing company Ofo lost its CEO, and Airbnb was forced to lay off 1,900 employees.

In the face of a crisis, companies are exploring ways to create new business models or transform existing ones. This phenomenon is occurring in all companies belonging to the tertiary industry, secondary industry such as manufacturing, and primary industry such as agriculture.

This is being implemented through the expansion of kiosks that respond to customers in a non-face-to-face manner, the creation of new service models that did not exist in the past, the design of disruptive and innovative business models that break stereotypes, the evolution of existing service models that expand the use of existing products to other fields, and the utilization of AI systems that quickly provide personalized services.

The Korea Institute of Science and Technology Evaluation and Planning (KISTEP) predicts a rapid shift from the offline economy to the online economy, and anticipates that the following new industries will emerge after the end of COVID-19: untact, smart factory, AI/big data, games, OTT (Over the Top), security, digital transformation, digital health, edutech, robots, and cloud computing.

Change encompasses development and evolution, but they are not synonymous. The shift from offline to online blurs the lines between life and work and threatens to disrupt traditional supply channels for goods and services, necessitating a proactive response. Furthermore, there is an urgent need to review and improve aging IT infrastructure, strengthen connectivity and security, and cultivate relevant talent.