Signal Korean content industry growth slowed to 2.1% in 2023 after averaging 6% over five years

Summary

The plan reports that Korea's content industry reached record highs in sales and exports. It nevertheless identifies a slowdown in growth as the main problem facing the sector. Over the past five years the industry grew by an average of 6 percent a year, but growth fell to 2.1 percent in 2023, which the plan describes as entering a phase of adjustment. The plan argues that bold investment is needed to create new drivers of innovation. It proposes concentrating support on global intellectual property content and companies, strategic help for related industries and expanded overseas networks.