The Korea Creative Content Agency (Acting President Yoo Seok, hereinafter referred to as KOCCA) published a short-term current affairs report on October 29 analyzing the game industry promotion policies of major global countries.
The countries analyzed in this report are ▲Japan ▲China ▲United States ▲Brazil ▲Thailand, five major countries in the global game industry. By examining the support policies adopted by the governments in each country as their game industries emerged as key drivers of national economic growth, this report provides implications for the development of the domestic game industry.
◆ Five major countries set the game industry as a critical industry for economic growth and technological innovation
According to the report, as the global game industry has proliferated recently, each country is entering into competition to foster the game industry. The game industry has become a core industry for strengthening the digital economy and soft power beyond a simple entertainment industry and is expected to grow to a scale of 363.1 billion dollars (*about 502 trillion won in Korean currency) by 2027. (*Converted based on the exchange rate of 1,383.5 won)
Accordingly, significant countries recognize the game industry as essential in promoting their own economic growth and technological innovation. They are working to secure global competitiveness through active support policies.
◆ Implementing differentiated policy changes for each country to foster the game industry and secure global leadership
Each country is implementing differentiated strategies to foster the game industry. ▲Japan is shifting its policy from autonomous competition to government-led growth support and is focusing on promoting indie game developers and supporting overseas expansion. ▲China is re-recognizing games as a regulated industry in a soft power-enhancing sector and is expanding support for e-sports and game development.
▲The United States is encouraging the growth of the game industry by focusing on private financing, ▲Brazil has started tax cuts and public support based on policies that equate innovative technology with the game industry, ▲Thailand is implementing the most active government-led game industry promotion policy, providing financial support and global cooperation opportunities.
◆ The Korean game industry needs strategic support to strengthen global influence and network
The report proposed strategic tasks for the development of the domestic game industry based on each country’s policy analysis. These include ▲strengthening global influence and supporting overseas market development ▲, balanced operation of funding and support programs ▲, expanding investment in new technologies and new businesses ▲, and building a global network through strengthening international leadership.
More detailed research results can be found in the KOCCA Focus on the KOCCA website.
