The Ministry of Culture, Sports and Tourism will spend a total of 319Bn won ($295.3 million) in promoting hallyu, or the Korean Wave. This announcement was made during the briefing on the Government’s draft budget for next year.
The amount allocated for promotion of Hallyu is increased 61.5Bn won, a 23.9%, from the previous year and will be distributed among 40 business projects.
The greatest support will be provided for tourism, sports, and arts alongside pop-culture in order to expand the influence of Korean culture.
“The total amount of budget for next year for the ministry stands at around 3.95 trillion won, the largest ever. With the money we will continue to support artists, the cultural content industry, development of regional tourism resources among others,” the ministry said in a press release sent to the media.
The promotion of Hangeul, or the Korean writing system, as well as Korean traditional music will also be supported with the mentioned budget.
Special attention will be paid to introducing sports to people of developing countries and the globalization of taekwondo among the efforts planned to boost Korean brand image at a global level.
Image over the headline.- Image of brand Korea designed by By Cheil Worldwide 2010. © Branding Korea.
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