GWANGJU < invest Korea

It is expected that the media industry cluster project of the Songam Industrial Complex will be developed actively as a key strategic industry with the supports from the government.

According to Gwangju City, the media industry cluster that is being built in the Songam Industrial Complex was designated as a specialized regional development project in March and the Ministry of Strategy and Finance conducted a preliminary feasibility study on April 11.

Gwangju City plans to finish the legal procedure this year to develop the media industry cluster project as a supporting project of the government and to include it in the projects supported by the government expenditure of 2015.

In preparation for the KDI's preliminary feasibility study that is continued to October, Gwangju will be prepared for the ground works by organizing a task force team from the Gwangju Development Institute, Chonnam National University and Gwangju Information & Culture Industry Promotion Agency.

3D Contents Media Industry Vitalization Project, which will play a pivotal role in the media industry cluster project, is a regional project committed by President Park Geun-Hye and will receive the largest investment of KRW 117.5 billion by 2019.

Gwangju will make a value chain where the contents, special effects and marketing are created in Songam Industrial Complex by building a creative contents supporting center and a distribution and exchange center linked to the CGI Center. The City will complete the construction of the media industry cluster where movies, broadcasting, advertisements, animations, games are produced with 3D, 4D, UHD (Ultra High Definition) and holograms.

"If the media industry cluster is constructed within Songam Industrial Complex, it will become the hub of cultural contents industry," a Gwangju City official said.

"We will lead the cultural economic era through the development of the cultural contents industry by building the cultural triangle belt with the Asian Culture Complex and Bitgaram Innovation City where cultural and information institutions will reside, such as Korea Creative Contents Agency and Korea Internet and Security Agency," he added.

Source: Gwangju Metropolitan City (July, 2014)