South Korea’s Ambitious Goal: 170 Trillion Won Revenue in K-Contents Industry

South Korea Aims for 170 Trillion Won Revenue in K-Contents Industry

The Ministry of Culture, Sports, and Tourism sets ambitious revenue target

The South Korean Ministry of Culture, Sports, and Tourism has unveiled its ambitious goal of achieving 170 trillion won in revenue for the K-contents industry. This target is expected to propel South Korea to become a global leader in the entertainment and cultural fields, garnering recognition and praise from people around the world.

2024 Major Policy Plans Briefing Held at Seoul Government Complex

Minister Yu In-chon discusses strategies for growth in culture, sports, and tourism

Minister Yu In-chon conducted a briefing on the major policy plans for 2024 at the Seoul Government Complex in Jongno-gu. The purpose of this briefing was to outline the strategies and projects that the Ministry of Culture, Sports, and Tourism will pursue to promote growth in the fields of culture, sports, and tourism.

South Korea Aims to Increase Cultural and Artistic Participation

Ministry targets a significant rise in participation rate

The Ministry of Culture, Sports, and Tourism aims to elevate the participation rate of Koreans in cultural and artistic activities. With last year’s participation rate at 58.6%, the goal for this year is to raise it to 80%. To achieve this, the Ministry will focus on implementing various initiatives to encourage more citizens to engage in cultural and artistic endeavors, fostering a vibrant and creative society.

Tourism Expansion and Activation of the K-Contents Industry

Ministry’s focus on growing the tourism sector and K-Contents industry

Expanding tourism in South Korea is another key objective of the Ministry of Culture, Sports, and Tourism. The target for this year is to attract 20 million tourists, a significant increase from the previous year’s 11 million. This growth in the tourism industry is expected to contribute to the overall development of the cultural and creative industries, including the K-contents industry.

Anticipated Surge in Revenue for the K-Contents Industry

Music, drama, and movies expected to drive revenue growth

The K-contents industry, encompassing various forms of entertainment such as music, drama, and movies, is projected to experience a substantial increase in revenue. Last year’s revenue was 150 trillion won, and it is estimated to reach 170 trillion won this year, reflecting the global popularity and demand for Korean entertainment.

Growth in the Sports Industry

Sports sector poised for expansion alongside the K-Contents industry

In addition to the K-contents industry, the sports sector is also expected to witness growth. The Ministry of Culture, Sports, and Tourism plans to increase the revenue of the sports industry from 78 trillion won to 86 trillion won during the same period. This highlights the significant contribution of sports to Korean culture and the economy.

South Korea’s Efforts to Elevate Entertainment and Culture

Ministry’s endeavors to position South Korea as a global leader

The Ministry of Culture, Sports, and Tourism is dedicated to elevating the K-contents industry and the overall culture and creative sectors to new heights. Through ambitious revenue targets, tourism expansion, and increased cultural participation, South Korea aims to establish itself as a global leader in the entertainment and cultural fields.