The total government budget for the content sector 2024 was set at 1.0125 trillion won. This is KRW 168.3 billion, an increase of approximately 20% compared to 2023, and accounts for 14.5% of next year’s budget of the Ministry of Culture, Sports and Tourism (from now on referred to as the Ministry of Culture, Sports and Tourism).
Support projects to stimulate exports of game companies will also be expanded. We will significantly expand the game distribution support project that supports the overseas expansion of small and medium-sized game companies (KRW 13.3 billion, an increase of KRW 5 billion) and continue to promote game planning support (KRW 5 billion) and game commercialization production support (KRW 24.2 billion). We also plan to expand the gaming talent resource operating budget (5.4 billion won, an increase of 400 million won) to foster game talent.
Minister of Culture, Sports and Tourism Park Bo-gyun said, “K-content is now a national strategic industry with overwhelming influence. The’ K-Content Export Strategy’ was announced at the ‘4th Export Strategy Meeting (February 23). The President pledged to ‘become one of the four major content powers by 27 and supply more than 1 trillion won in policy finance by 2024.’ reported “Next year’s content industry promotion budget will exceed 1 trillion won, and policy finance will provide 1.77 trillion won, well over 1 trillion won, to intensively foster the content industry as a future growth engine that will lead our economy,” he said.
