Invest KOREA

According to Yonhap News,

(SEOUL=Yonhap News) Even with unfavorable export conditions in 2017, Korea's content industry saw significant growth.

According to the Ministry of Culture, Sports and Tourism and Korea Creative Content Agency's 2017 Q4 and Yearly Contents Industry Trends Analysis Report opened to the public on May 15, Korea's 2017 content exports amounted to USD 6.89922 billion, up 14.7% YoY.

Breaking it down by sector, game exports amounted to USD 3.9585 billion, an increase of 19.2% YoY, broadcast contents were up 20% YoY, publications 17.9% YoY, Cartoons 16% YoY, informational contents 11.2% YoY and only movies showed a decrease in exports, down 7.2% YoY.

Last year's Korea- U.S. THAAD missile deployment put a strain on Korea-China relations as well as the trade of content between the two countries. However, it led to the diversification of export markets, especially new-growth markets in Europe, North America and Southeast Asia.

Total sales for last year's content industry in Korea amounted to KRW 110.5341 trillion, which is a 4.8% increase YoY. The industry has maintained an average annual growth of 4.8% since 2013.

A Korea Creative Content Agency representative commented, "Taking into account that Korea's 2017 economic growth rate was 3.1% and that the average economic growth rate for the past 5 years is 1.5%, the figures of the content industry are significant."

The 2017 Q4 and Yearly Contents Industry Trends Analysis Report is available on Korea Creative Content Agency's website (www.kocca.kr).

abullapia@yna.co.kr

Copyrights Yonhap News. All Rights Reserved.
Reprint or redistribution without permission is prohibited.

Source Text

** This article was translated from Korean.

Source: Yonhap News (May 15, 2018)