Korea's Culture Ministry earmarks record 9.6 trillion won for 2027 to become a 'culture powerhouse'
More young people in Korea will have access to cultural activities next year, and artists will see greater stability in their livelihoods, as the government seeks to strengthen both pillars in its push to make Korea a global cultural powerhouse.
The Ministry of Culture, Sports and Tourism has earmarked a record 9.6 trillion won ($6.9 billion) for its 2027 budget, marking a 22.6 percent jump from this year's 7.9 trillion won, it announced Friday.
The budget is divided into four key areas, with the culture and arts sector seeing the largest increase. Funding for the sector will rise 44.6 percent to 3.9 trillion won, up from 2.7 trillion won this year.
The content sector, which posted the largest budget growth this year at 27 percent, will receive a more modest 9.5 percent increase next year, bringing its total allocation to 1.6 trillion won.
Tourism sector has been earmarked with 1.5 trillion won and sports sector 1.7 trillion won.
"In that sense, [biggest increase in culture and arts sector] reflects the current administration's philosophy in cultural policies. The budget for K-culture is, of course, important, and it has also seen a significant increase. But we believe the basic culture and arts sector is fundamental to Korea becoming a cultural powerhouse, and we have consistently said that we would strengthen this area."
The Culture Ministry has significantly expanded the age range eligible for what's called Youth Culture Pass, a type of online voucher given to young people in Korea for cultural event. This year those aged 19 and 20 were eligible. From next year, the range will expand to from 19 to 34.
This year, 280,000 people were eligible for the pass, with 36.1 billion won allocated. Next year, 9.2 million people will be eligible, with 792.5 billion won allocated — a 22-fold increase. The government fund supports 100,000 won per person annually in the capital region, and 150,000 won in non-capital regions.
The cultural events the voucher supports have also expanded from exhibitions, performances, movies, book purchases to include sports activities as well.
"We believe helping young people enjoy cultural activities will eventually lead to virtuous cycle by indirectly injecting funds into arts and culture sectors as well especially in the regional areas," Kim said.
Social safety net for artists will be fortified to guarantee better artistic activities.
A total of 31.1 billion won has been earmarked to support the basic livelihoods of certified artists from 1.5 billion won this year.
In content sector, the ministry doubled down on expanding policy financing. It expanded contents strategy fund that invests into domestic IP regardless of company size or genre from 65 billion won to 130 billion won. Another fund aimed at attracting foreign investment also increased from 60 billion won to 200 billion won.
The ministry aims to strengthen Korea's production capacity by promoting collaboration with foreign production team.
It has expanded the number of global projects it supports where overseas and domestic production teams co-produce, from six to 14. It said it will also resume supporting filming of foreign project in Korea, starting with three next year.
Boosting regional tourism remains to be the core mission of the culture ministry.
It said it will newly invest 93.5 billion won in fostering tourism zones around regional airports. It will focus on five areas of Busan, Daegu, Cheongju, Muan and Yangyang next year.
BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]
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