Culture Ministry Finalizes Next Year's Budget at 7.8555 Trillion Won, Up 788.3 Billion Won from This Year

The Ministry of Culture, Sports and Tourism announced on December 3 that its budget for next year has been finalized at 7.8555 trillion won, an increase of 788.3 billion won (11.2%) compared to this year’s main budget of 7.0672 trillion won.

By sector, the content sector saw the largest increase. The budget for this sector was set at 1.6177 trillion won, up 344.3 billion won from this year. Allocations include 430 billion won (+135 billion won) for investment in the K-Content Fund, 23.8 billion won (+15.8 billion won) to support artificial intelligence (AI) content production, 12 billion won (new) for improving the environment for popular music performances, 15.5 billion won (+15 billion won) for the creation of K-content complex cultural spaces, 7.5 billion won (new) to support AI transformation in game production environments, and 39.9 billion won (+9.6 billion won) to support the production of broadcast and video content specialized for online video services (OTT).

The budget for the culture and arts sector was set at 2.6654 trillion won, an increase of 283 billion won (11.9%) from this year. Major projects include 18 billion won (new) to support young K-art creators, 24.4 billion won (+21.3 billion won) for K-musical support, 5 billion won (new) for the artists’ welfare fund, 25 billion won (20 billion won in loans and 5 billion won in guarantees, new) for financial support in the arts industry, 36.1 billion won (+19.1 billion won) for the Youth Culture and Arts Pass, and 291.5 billion won (+27.9 billion won) for the Integrated Culture Voucher.

The tourism sector budget was finalized at 1.4804 trillion won, an increase of 132.7 billion won (9.8%) compared to this year. Allocations include 6.5 billion won (new) for the Regional Love Vacation Support Program, 10.7 billion won (+3.7 billion won) for worker vacation support, 1 billion won (new) for the tentatively named Hotspot Guide, 5 billion won (new) for the K-Regional Tourism Leading Area Project, 3 billion won (+2.4 billion won) for global tourism special zones, and 710.5 billion won (+91 billion won) for financial support in the tourism industry.

The sports sector budget increased by 24.8 billion won (1.5%) to 1.6987 trillion won. Major projects include 95.3 billion won (+29.4 billion won) for the construction and renovation of public sports facilities, 7.5 billion won (new) to support sports programs for seniors, 3 billion won (new) for the development of prospective national athletes, 8.8 billion won (+3.8 billion won) for job security support for athletes, and 288.4 billion won (+10 billion won) for financial support in the sports industry.

The Ministry stated, "We will efficiently execute next year’s budget of 7.8555 trillion won to accelerate the growth of K-Culture, strengthen the creative foundation of culture and the arts, and create an environment where everyone can enjoy culture, tourism, and sports in their daily lives."

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