Gov't to Nurture Content, 3D Industries

The government aims to create up to 80,000 new jobs in the media and content industries by joining hands with the private sector to invest some W20 trillion by 2014 (US$1=W1,124).

The decision was made in a government strategic meeting for employment on Thursday. "The service sector [including the content and media industries] accounted for just 68.5 percent of jobs in Korea last year, ranking 23rd among the member states of the OECD," said Kwak Seung-jun, chairman of the Presidential Council for Future and Vision. "We need to create more jobs in the sector."

The content industry will receive W6.5 trillion, including W1 trillion from the government, and the media industry W4.7 trillion, including W500 billion in public funding. Particular focus will be put on the 3D content and broadcasting sectors, for which the government will spend W800 billion and encourage the private sector to invest some W10 trillion by easing regulations.

As part of plans to nurture 3D television broadcasting, the government aims to make 20 percent of all contents in 3D by 2015 and introduce 3D TVs that do not require viewers to wear special glasses.

The government will also ease regulations that currently hamper usage of smartphones, such as those related to mobile financial transactions. The number of wireless Internet hot-spots will be doubled within this year, and WiBro service will be expanded to 84 cities nationwide.