S. Korea to invest in ‘good stories’

August 7, 2015

SEOUL (Yonhap) — South Korea has discovered an unconventional path to economic growth: stories — and good ones at that.

The Ministry of Culture, Sports and Tourism announced an action plan on Friday to expand the “story market” from its current size of 1.5 trillion won (US$1.3 billion) to 5 trillion won by 2020.

“Story market” is a buzzword used by South Korean policymakers that refers to all kinds of creative content that have a plotline, including folk tales, novels, cartoons and movies.

As cartoons become TV series and TV series become movies, a good story is now all it takes to create content in a myriad of forms, the Culture Ministry said.

As such, it will try to expand the number of sources that provide creative content to its online database (www.culturing.kr) from the current seven government agencies and organizations to 20.

It will also institute a system of “story doctoring,” in which a story chosen through a regional contest may be refined and polished by a storytelling expert.

Meanwhile, South Korea will strive to establish distribution platforms for these contents and better protect creators’ rights, the ministry said.

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