Science Ministry earmarks 19.8 billion won to foster 5G content

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Science Ministry earmarks 19.8 billion won to foster 5G content

The Ministry of Science and ICT said Tuesday it will inject 19.8 billion won ($16.3 million) of the supplementary budget to foster 5G media services.

The Science Ministry previously said that immersive media content including virtual reality and augmented reality is one of five major business pillars of the 5G era.

To support the development of 5G-based content, the government plans to establish infrastructure that can be shared by local small- and midsized content developers. The government will use 9.8 billion won to set up a space for companies to use to make content in Sangam-dong, western Seoul.

The rest of the budget will be spent supporting projects selected through a 5G media content idea contest run by the ministry.

By Kim Jee-hee
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