S.Korea’s contents export size surpasses home appliances, textiles

KITA emphasizes the need for policy support to diversify overseas market entry in the content industry

S.Korea’s contents export size surpasses home appliances, textiles
Jae-Fu Kim 1
Jul 06, 2023 (Gmt+09:00) hu@hankyung.com
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South Korea's contents export size recorded $13.3 billion last year, surpassing the export values of home appliances ($8 billion) and textile products ($12.3 billion).

The Korea International Trade Association (KITA) revealed this on Thursday at the 4th industry relay meeting for export expansion held at Trade Tower in Seoul's Gangnam.

"Except for the advertising sector, the content industry has been recording a trade surplus in all areas, including games, music and other content sectors," Head of Members Service Division Kim Byung-yu said at the association. He also mentioned that the increase in content exports is believed to contribute to the expansion of consumer goods exports such as cosmetics and processed foods.

"However, 70% of content exports are concentrated in Asian regions, and more than half of the total export volume comes from the gaming sector, indicating limitations due to regional and sectoral imbalances. There is an urgent need for policy support to diversify the overseas market entry of the content industry," he further added.

Write to Jae-Fu Kim at hu@hankyung.com
#Korea International Trade Association #content export #gaming #music #TV production #characters #One-stop Export Order Support Group #Korea Culture Contents Licensing Association #Korea Mobile Game Association #Korea Music Content Association

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