Abstract
President Park Geun-hye Administration has established the Ministry of Science, ICT and Future Planning (MSIP) to build a creative economy using Information and Communication Technology (ICT). July 2, 2013, The National Assembly has legislated the special act on the ICT promotion and convergence so called special ICT Act. This special ICT Act has reduced the legal basis through legislative process and departmental agreement. Therefore many experts worried that since the MSIP's key functions and roles are being reduced, there will be a limit to the MSIP's endeavor for the advancement of science technology and the ICT promotion and convergence. The establishment of the Agency, together with the formation of 'IT Strategy Committee', is considered to be one of the core items of the Special Act on ICT. MSIP originally planned to integrate the ICT R&D functions scattered across many governmental organizations, including Korea Communications Agency (KCA), KEIT and Korea Creative Contents Agency (KOCCA), into the Agency to separate the national ICT R&D from private R&D and streamline the process of 'discovery-selection-evaluation-commercialization'. The analytical results in this study are supposed to the establishment of efficient ICT governance systems as the practical strategies to actively cope with the changes of ICT convergence environment. It is also expected to the revision on the special ICT Act in the ICT budget and governance. Therefore, MSIP should cover research and development (R&D) as well as major ICT promotion functions to a creative economy.