Six government bodies will join forces to reinvigorate the economy, focusing on the “creative industries” and on “cultural enrichment.”
The Ministry of Science, ICT and Future Planning, the Ministry of Culture, Sports and Tourism, the Ministry of Health & Welfare and the Ministry of Trade, Industry and Energy, and then the Financial Services Commission and the Korea Communications Commission, announced their 2016 plans to bolster the economy during a policy briefing on Jan. 18.
President Park Geun-hye (center) is briefed on the economic growth policies put forth by six government bodies on Jan. 18.
The Ministry of Science, ICT and Future Planning will set up hubs in Pangyo, Gyeonggi-do Province, and in Sangam, Seoul. The hubs aim at the creation of new cultural content and new businesses. The ministry will also help the nation’s creative industries to make inroads into global markets and to boost bilateral exchanges within those markets.
There will be more funds from the government to back policies and projects related to the content industry and to high value-added, promising services.
The Ministry of Culture, Sports and Tourism laid out its plans, too, one of which is to kick off a “Culture Creation Convergence Belt.” This will be a cluster made up of a “creative convergence center,” a “creative venture center,” an academy and performance facilities. The ministry will then go all-out to help startups there settle and grow their businesses as quickly as possible. More efforts will be made to foster promising content developers, such as video games and online cartoons, and, also, to build a sound platform that will allow the further dissemination of Korean content across global markets.
As part of ways to foster new businesses in the IT industry, the Korea Communications Commission plans to establish and expand its next generation of broadcasting communications infrastructure, such as 5G and UHD. The commission will work to develop diverse broadcasting content and boost cooperation with global outlets, as well as to consolidate existing infrastructure and to improve regulations across the industry.
The Health Ministry announced plans to foster the bio-healthcare industries and to add more funds to projects on developing new medicines and medical equipment. The Ministry of Trade, Industry and Energy, meanwhile, vowed to put more effort into the IT industry and into new energy industries, such as solar power and smart grids. It said that it will turn such businesses into higher value-added ones, and remove regulations across the sector, too.
Six government bodies outline their plans to boost the economy during a policy briefing on Jan. 18.
“The very core of the creative industries lies in our culture. We need to join forces to find new growth engines, engines that can create new markets, new industries and new jobs, based on the frame and foundation of the creative industries we have so far built,” stated President Park Geun-hye. “The government must help creative businesses and cultural enrichment take firm root this year, allowing citizens to enjoy the fruits of all these efforts,” she concluded.
By Sohn JiAe
Korea.net Staff Writer
Photos: Cheong Wa Dae
jiae5853@korea.kr
