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South Korean Government pledges $237m to games industry

Ministers draw up plans to boost sector into world's third largest by 2012

South Korea's government has pledged KRW 350 billion (USD 237 million) to prop up the nation's videogames industry until 2012.

Culture, Sports and Tourism Minster, Yu In-chon, disclosed the information in a meeting on Wednesday, according to Digital Chosun Ilbo, where the government laid out plans to develop the regions game's industry.

Yu promised to draw up 60 projects with the aim of helping the local industry to become one of the three largest in the world, alongside the US and Japan.

Update: This story previously reported the figure in the first paragraph incorrectly as USD 236 billion.

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James Lee