(SEOUL=NEWSIS) The government will establish a multi-consultative group for the contents industry, for exchanges and cooperation with China. It plans to increase Korea’s export volume to China to USD 4 billion by 2017.

The Ministry of Culture, Sports and Tourism held an economic ministers’ meeting on December 10. Presided over by Deputy Prime Minister Choi Kyung-hwan, the ministers decided on the following measures to promote shared growth in the contents industry: building infrastructure to enhance the competitiveness of local companies, strengthening the selection and concentration strategy for contents exports and establishing a body of cooperation between the two countries.

The government plans to develop the growth infrastructure of Korean contents with Chinese capital. In this regard, it will support infrastructure development for finance, information, contents value and human resources.

The government will also expand special and support funds for small businesses to ensure their independence. The Korea Creative Content Agency and the Korea Trade-Investment Promotion Agency (KOTRA) also plan to provide information related to Chinese capital. Other information related to entering the Chinese market will be provided via portals.

The government will increase its support for contents diversification. It will help contents companies increase revenue through indirect advertisements and syndication supply services. It will also commercialize Korean wave contents to increase the export of consumer goods.

The government will strengthen selection and concentration strategies by tapping into the mobile gaming industry, which is rapidly emerging in China, exporting Korea’s show business, including musicals and star projects, and expanding the co-production of broadcasting programs, films and stories.

To systematically execute the measures, the government agencies will form a consultative group for foreign contents. The group will comprise government agencies, relevant industries, experts and affiliated organizations.

The government also agreed to build various exchange and cooperation channels between Korea and China to solve mid- to long-term issues including deregulation and increasing awareness of intellectual property rights.

kafka@newsis.com