Korean Government Putting $200 Billion into Game Industry

Over in the U.S., we’re more used to hearing stories of the government trying to censor video games. So hearing a story about Korea planning to pump billions of dollars into the industry seems like quite a feat, but that’s exactly what they’re planning. In a recent meeting, Culture, Sports and Tourism Minster, Yu In-chon, stated that the game industry had proved itself effectively as a future growth engine by reaching it’s export goal two years in advance. Therefore, the Minister has proposed a US$200 billion fund through 2012 for the games industry in order establish Korea as one of the world’s top video gaming countries, alongside the U.S. and Japan. Korea also hopes to expand its exports in that area to around 5 trillion won (about US$3.3 trillion) per year.

I’m actually surprised it took them this long to see video games were a good market for them to invest in. When your country starts televising Starcraft competitions and literally setting up compounds for gamers to train, that’s probably a sign that you should be paying attention to something.

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2 Comments on Korean Government Putting $200 Billion into Game Industry

CJ

On December 4, 2008 at 12:17 pm

I’m pretty sure your numbers are completely off.
It’s most likely to be 200 billion Won (~$150 million)
5 trillion won is also about 3.5 billion US dollars, not trillion.
Korea’s entire GDP is barely over a trillion dollars.

plz die

On December 4, 2008 at 12:33 pm

Copied from the site. Notice W350 billion and US$200 billion.

The government will invest W350 billion in the computer game industry until 2012 and expand exports to W5 trillion a year.

Yu promised to draw up 60 projects including a US$200 billion game fund and help the country become one of three countries with the world’s largest game industry together with the U.S. and Japan.

Yay, maybe this means more free crappy wow and linage 2 clones :grin: