S. Korea gets serious with $60m game investment

S. Korea gets serious with $60m game investment

By Rob Crossley

May 20th 2009 at 8:40AM

Rising star in the industry sees Serious Games as â??an emerging blue oceanâ??

The South Korean government has pledged to invest 80 billion Won ($63m) into the nation’s growing serious games market.

The government expects these investments will catalyse the nation’s Serious Games sector growth to reach a market value of $400 million by 2012. The initial 80 billion Won investment will fund the development of general educational games, military simulations, as well as medical training titles.

The initiative was sparked from a joint effort between the Ministry of Culture, Sports and Tourism and national newspaper Etnews. Those two forces together sponsored the nation’s Serious Games Forum, a national network where professionals and interested parties could network and exchange ideas.

Yu In-chon, ex-film star and now South Korea’s minister of Culture, Sports and Tourism, said: “The functional game market is at an early stage, but the market is an emerging blue ocean. The government is going to give support to prompt private investment in that field.”

Last year the South Korean government had invested 350 billion Won in the recreational games industry.