Korean Games Industry Gets $200 Million Boost from Government

Can Korea rival the U.S. or Japanese game industry? The country is optimistic and the government is giving the Korean game industry funding to help its growth.

by James Brightman on Thursday, December 04, 2008

While the U.K. video game industry could see itself slipping, Korea has its sights set on becoming one of the countries in the world with the largest game industry, alongside the U.S. and Japan. According to the Digital Chosun Ilbo, the Korean government plans to invest 350 billion won (over $200 million) in the game industry until 2012 to help Korea reach this goal.

Culture, Sports and Tourism Minster Yu In-chon said he wants Korea to expand game exports to 5 trillion won (over $3 billion) a year. He also noted that Korea's game industry has been quite encouraging in terms of future prospects since it accomplished its billion-dollar export goal for the year 2010 two years ahead of schedule.

Yu In-chon noted that the new game fund will be used to spark 60 new projects as Korea seeks to elevate its global gaming status.

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