Korea to throw money at content industry, Paris Olympics to boost culture

The Ministry of Culture, Sports and Tourism plans to invest $1.31 billion to boost Korea's global cultural influence, including holding a K-Beauty Festival and giving support to Korean artists at the 2024 Paris Olympics.

Yu In-chon, minister of Culture Sports and Tourism, speaks during the press briefing to announce the ministry's key policy goals for this year on Tuesday in central Seoul. [NEWS1]

The Ministry of Culture, Sports and Tourism unveiled on Tuesday a set of key projects it plans to focus on this year, to make sure that the presence of Korean culture is enhanced in the world through its strong K-content and make Korea a global softpower powerhouse.

Culture Minister Yu In-chon announced during a press briefing Tuesday evening in central Seoul that the ministry will provide a total of 1.74 trillion won ($1.31 billion) in policy financing to boost Korea’s position in the global content market. The amount is its largest ever and includes allocating 600 billion won as a K-content strategic fund to focus on fostering Korea’s game, video and webtoon industries.

For the upcoming 2024 Olympic Games, which begins on July 26 in Paris, Yu said the ministry will launch “2024 Paris-Korea Season” and support performing arts troupes and artists from Korea so that they can showcase their works to international visitors who will be visiting Paris during the event. The performances will begin in May with a breakdance group, to celebrate the dance event's official debut at the games, followed by national art troupes like the National Choir, the Korea National Opera, the Korea National Ballet and the Korea National Contemporary Dance Company.

Yu's goal is to attract 20 million foreign travelers to Korea by the end of this year. To help reach that goal, the ministry will launch a large-scale K-Beauty Festival in June followed by a performing arts festival in October. The Culture Ministry said it will make sure foreign visitors have better experiences while traveling around Korea, including in rural areas, adding that the ministry will continue to support local governments to brand their areas through the ministry’s “Local 100” project.

“We’ll make sure to work together and gather all our capabilities so that 2024 becomes a year in which people’s daily lives are enriched through culture and Korea’s position as a global cultural powerhouse is enhanced,” Yu said.

BY YIM SEUNG-HYE [yim.seunghye@joongang.co.kr]