Online content firms prep for boom: report

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Online content firms prep for boom: report

Korea’s online content industry is forecast to expand to nearly 13 trillion won ($1.37 billion) by 2010, a government report showed yesterday. The domestic market for online content is expected to reach 12.78 trillion won within four years, more than double the 6.38 trillion won posted last year, according to a report from the Ministry of Information and Communications. Exports of online content, which stood at $500 million last year, are expected to reach $1.3 billion by 2010, with the number of initial public offerings expanding from the current 33 to 70, it said. However, the expected annual growth rate of the industry, assessed at around 15 percent, is expected to be lower than that of other nations, as the yearly expansion in the global market is likely to hit 20 percent by 2010. In an effort to sharpen the competitive edge of the country’s online content providers, the ministry plans to focus on the fields of production, retail and consumption, as well as prepare for new services, such as Internet Protocol Television.
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