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Korea emerging as one of global top three in the game market by 2010, grabbing 5% share of the world market By Yeon Chul-woong Staff reporter The nation's game industry, the market size of which had grown to 4.3 trillion won in 2004, a 9.6% rise from the previous year, is estimated to have increased by about 10% to 4.8 trillion won in 2005. According to chairman Kim Yeongman, KAOGI (the Korean Association of Game Industry / www.gamek.or.kr), particularly the five platforms of the game industry, have posted an annual growth rate of 30% in recent years, a remarkable feat in consideration of the nation's economic growth of 4 to 5 percent.
There is not other opinion in that today, the game industry has become a major industry of the nation following a rapid growth to a 4 trillion won market during the past 8 years amidst growing attention. Moreover, it is no exaggeration to say too that the game industry on par with the world trend has become a matter of course to be promoted and assisted as a strategic industry in the 21st century.
The game industry has grown from a market of one trillion won in the mid 1990s to a market of 4.3 trillion won in 2004 with about 2 trillion won in production values, $309 million in exports and 43,000 employees in over 2,000 companies and 84 educational institutions. If the industry continues to grow at the current pace, experts explain it is forecast that Korea will emerge as one of the top three players of the world's game market in 2010, taking a 5% share of the world market as the industry is expected to grow to a 10 trillion market with 86,000 employees and $1 billion in exports.
To achieve this goal, the Ministry of Culture and Tourism had announced in 2003 a long-term plan to promote the industry and set up the "Strategic Committee for the 2010 Game Industry". With the recent official launch of Korea's 2010 Advisory Committee for the Game industry as an impetus, the entry of the Korean game industry into one of world's top three by 2010 is set to become a reality. Along with the 2010 Advisory Committee for the Game industry, a Game Industry Division was recently established for the first time within the Ministry of Culture and Tourism (MCT / www.mct.go.kr) with the Korean government showing keener interest in nurturing the country's burgeoning game industry.
These all is a testimony that concrete action plan takes shape for Korea's game industry to aim to be one of the world's top three game powers by 2010. Domestic game industry, in the meanwhile, has posted a high growth, but the environment at home & abroad is not at any cost favorable in doing continuous and stable development. In that regard, concrete strategies for continuous and stable growth of the domestic game industry are needed to meet the challenges of being a leader in the world game market.
As chairman Lim Dong-keun, KCGA (the Korea China Industry Development Association / www.msoworld.org) points out, on one hand, the government as well as relevant game business circles have to cope with the illegal reproduction problem in China as well as online hacking from abroad actively to protect our own contents. On the other hand, diversifying overseas exports or nurturing able human power and so forth are important priorities of the 2006 New Year for game business.