[2023 Budget] 6.7076 Trillion KRW Invested in Culture, Sports, and Tourism... Major Support for K-Culture

[Asia Economy Reporter Seomideum] The Ministry of Culture, Sports and Tourism's budget for next year has been set at 6.7076 trillion KRW. On the 30th, the ministry announced that it plans to prioritize budget support based on three key principles: ▲ supporting the private sector's free creativity and innovation ▲ ensuring fair and non-discriminatory access to culture, sports, and tourism ▲ promoting K-Culture together with the global community.

To support the private sector's free creativity and innovation, 2.2255 trillion KRW will be invested. The main points include ▲ expanding the target for creative preparation funds (23,000 people) ▲ creating an environment that guarantees artists' rights ▲ expanding the operation of the certificate of artistic activity. Support will also be provided for ▲ creative activities and practical experience for prospective artists (art university students, young artists, etc.) with 5.8 billion KRW ▲ and support for the use of art and technology convergence vouchers with 2.1 billion KRW.

Investment will also be strengthened in advancing Hallyu content. ▲ To nurture global intellectual property (IP) holding companies, the ‘Wipungdangdang Content Korea Fund’ will be expanded to six types (220 billion KRW). ▲ Efforts will be focused on nurturing talent familiar with content development and technology (6.7 billion KRW). To expand the global influence of Korean dramas, the budget for fostering the broadcasting and video content industry will be significantly increased (total 122.8 billion KRW), up by 76.7 billion KRW from last year. 64.2 billion KRW will be invested in game planning and production, as well as hosting esports competitions for people with disabilities. The resources for the Film Development Fund have also been expanded (80 billion KRW).

1.3947 trillion KRW will be invested to improve accessibility to culture, sports, and tourism. This is to achieve national policy goals of ensuring fair cultural access opportunities and realizing universal cultural welfare. Through expanding the integrated cultural voucher budget (210.2 billion KRW) and sports lesson voucher (85.2 billion KRW), the enjoyment gap in culture, arts, and sports will be reduced. Additionally, 26.1 billion KRW will be provided to support and educate people with disabilities in artistic, sports, and tourism activities.

Projects for balanced regional cultural development will also continue. By fostering internationally competitive tourism hub cities (42.3 billion KRW), the unique characteristics of regions will be preserved. 895.7 billion KRW will be invested in Hallyu content. The number of overseas export support bases will be expanded from the existing 10 to 15, and overseas market information provision and cooperation foundations will be increased.

Efforts will also be made to attract foreign visitors. Through ▲ support for activating foreign tourist attraction marketing (51.4 billion KRW) ▲ overseas advertising for Korean tourism (31.7 billion KRW) ▲ and the Year of Korean Tourism (10 billion KRW), a welcoming atmosphere for foreign tourists visiting Korea will be created.

Support for professional sports will also be expanded. ▲ Treatment for national athletes and dedicated personnel supporting them will be improved by raising the national athlete training allowance (from 70,000 KRW to 80,000 KRW per day) and extending trainer employment periods (from 11 months to 12 months) (20.1 billion KRW). Additionally, ▲ 13.1 billion KRW will be provided to offer various cultural and educational programs showcasing the excellence of Korean culture in connection with the 2024 Gangwon Winter Youth Olympic Games, and ▲ 1.4 billion KRW will be allocated to support the operation of the 2024 Busan World Table Tennis Championships.

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