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S. Korea's content industry sees record exports in 2022: data

By Park Ga-young

Published : Jan. 5, 2024 - 14:19

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Minister of Culture, Sports and Tourism Yu In-chon participates in a briefing titled Minister of Culture, Sports and Tourism Yu In-chon participates in a briefing titled "Copy Rights Now" at the Modu Arts Theater in Seoul on Dec. 27. (Yonhap)

South Korea's content-related exports and sales reached a new record in 2022, an industry survey report showed Friday, reflecting the global popularity of Korean pop culture.

The content industry's exports reached $13.24 billion in 2022, a 6.3 percent rise from the previous year's $12.45 billion, according to a 2022 research study on the cultural content industry conducted by the Ministry of Culture, Sports and Tourism.

The content industry encompasses 11 different sectors, including publishing, music, games, broadcasting, film and animation, that create and deliver copyrighted works to the public.

The content industry's revenue also hit an all-time high at 150 trillion won ($114 billion) in 2022, up 9.4 percent from 137.5 trillion won in 2021. This growth rate far outpaced the country's overall industry growth of 3.3 percent, the ministry said, citing figures from Statistics Korea.

The content industry has grown to surpass the export figures of the nation's other emerging industries. Compared with the content industry’s exports worth $13.24 billion, the exports of secondary batteries stood at $9.99 billion, while those of electric vehicles recorded $9.83 billion, according to the ministry.

The number of businesses in the industry also grew by 5.7 percent to 115,000, while the numbers of workers increased by 6 percent to about 651,000.

"As K-content is receiving love from people worldwide, we will foster the content industry as a national strategic industry through substantial support," Culture Minister Yu In-chon said, adding, "We will not only rely on statistical surveys but also consistently gather on-site opinions to formulate policies that support the industry according to the needs identified in the field."