"Support for Korean Cultural Products Urgent"A researcher in the Samsung Economic Research Institute, Kim Hyu-jong, urged at a conference on cultural industries, hosted by the Ministry of Planning and the Budget, that the nurturing of Korean cultural industries is essential as the domestic market share occupied by Korean cultural products is extremely low.
According to Kim's report, Korean cultural products take up 65 percent of the domestic music disc market, 25 percent of the movie market, 10 percent of the games software market and only 8 percent of the 'personality' products market.
Korean products take up only 0.5 percent of the global market, while the U.S. occupies 30 percent and Japan 10 percent.
Kim suggested that the Korean cultural sector should unite with adjacent countries to approach the world market, while working to increase the domestic market share to around 40 percent.
A researcher in the Korea Cultural Policy Institute, Lee Heung-jae, said that the government should bolster sales of games, traditional cultural and visual products first. He said that support for cultural infrastructures, such as publishing, advertisement and TV production centers, is also needed.
Kang Joo-an : email@example.com