The local content business is forecast to reach 97.1 trillion won (US$88.8 billion) in 2013, compared with 88.7 trillion won the previous year, according to the data by the Korea Creative Contents Agency (KOCCA).
Exports are projected to grow 8.9 percent on-year to $5.2 billion from last year's $4.8 billion, it added.
The growth in
exports was largely attributed to the game industry which is ramping up revenue
in the mobile sector in line with a global smartphone boom.
Game
exports are forecast to hit $3 billion, accounting for roughly 58 percent of
total exports, according to KOCCA.
The agency said growth in the
mobile game market has boosted demand in developed markets as well as emerging
markets such as Southeast Asia and Latin America.
The agency, however,
said growing competition among South Korean game developers is likely to limit
growth in the local game industry.
Meanwhile, KOCCA projected a
diversification in K-pop and digital music services would buoy the music
industry's exports.
Exports of music-related content and services are
forecast to reach $280 million this year, up 21.9 percent from last year, it
said.
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