Kocca drums up aid for game makersCOLOGNE, Germany - Hong Sang-pyo, president of the Korea Creative Content Agency (Kocca), told Korean media on Thursday he will establish a benefit society to financially aid small- and medium-sized local game makers in developing new titles.
Kocca already allocates 300 billion won ($264 million) a year for content-related matters, but some SMEs have complained that the budget is too tight for the game industry, as only one-tenth of it is used to support them.
“To provide extra support, we aim to raise an additional 50 billion won in funds by securing 20 billion won from the government and collecting the rest from private companies next year by launching a benefit society,” Hong said on the sidelines of the ongoing Gamescom 2012, one of the industry’s three top trade fairs and the largest in Europe.
The state-run agency has also set a goal of creating a benefit society with a 100 billion won fund from 2014 to 2016. A benefit society is an organization that provides mutual aid and benefits to individuals or companies in need.
In this case, it would serve as a platform to help small game developers that are struggling to make ends meet or release new games due to tight budgets.
Hong, a former senior secretary to incumbent President Lee Myung-bak on public affairs, was appointed to head up Kocca five months ago.
The agency accompanied 22 game developers, including MaxOn Soft and Zemi Interactive, to Cologne to help them find interested parties and business partners by setting up a Korean pavilion.
By Kim Mi-ju [email@example.com]
More in Industry
Are you Taycan to me?
Facebook hit with $6 million penalty for customer data leak
Spinoff to give LG chairman's uncle his own conglomerate
Lotte companies make appointments earlier than usual
Doosan Heavy becomes largest shareholder of Doosan Fuel Cell