Incheon City Invests 10.4 Billion Won to Foster Content Companies... Establishes Support System by Growth Stage

[Asia Economy Reporter Park Hyesook] Incheon City announced on the 25th that it will invest 10.4 billion KRW this year to support content companies.

The city plans to implement a total of 10 projects, including customized commercialization support for cultural content, discovering and nurturing promising Incheon-type content companies, fostering outstanding young content talents, and expanding the XR (Extended Reality) Metaverse Incheon Connection Project, among other new initiatives.

The policy aims to establish a full-cycle support system tailored to each stage of company growth to revitalize the local content industry and to focus on nurturing young content talents.

Additionally, to respond to the rapidly growing XR industry demand, the city will be the first local government to introduce the metaverse field into the GIS sector, discovering and nurturing metaverse content that creates new added value.

So far, the city has promoted content development and commercialization using virtual convergence technology that connects the real and virtual (digital) worlds, centered on the Incheon VR (Virtual Reality) and AR (Augmented Reality) Production Hub Center.

Last year, about 8.4 billion KRW was invested in six projects, supporting content production and commercialization for 131 companies, and creating 238 jobs through program operations.

An official from Incheon City stated, "This year, focusing on new projects, we will proactively respond to the rapidly changing cultural content industry environment by establishing governance and systems in related fields and seek continuous development directions."

This content was produced with the assistance of AI translation services.