S. Korea aims to drive economic growth with new sports industry development plan

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Published on 21 Jan 2019, 11:06
문체부, 경제성장 이끌 '스포츠산업 중장기 계획' 수립

The sports industry is expected to be a major growth engine in the 4th industrial revolution, and the government has established a medium-and-long-term plan for the industry to drive the country's future economic growth.
Won Jung-hwan reports.
South Korea aims to drive economic growth with a new sports industry development plan.
The Ministry of Culture, Sports and Tourism announced on Monday a five-year development plan for the sports industry to actively respond to the changing technological environment and establish its own growth engine.
The domestic sports industry is expected to grow to nearly 9 billion U.S. dollars by 2023.
The Ministry laid out various plans and projects to help foster this growth.
First, it plans to support technology development in the sports market, such as the use of smartphones, to foster the public's participation and viewing service in the sports arena.
It also said it will create a big data platform linking the health and sports industries, for example by collecting data on people's physical health and ability in order to foster the country's healthcare market.
In addition, after positive feedback, it will expand its school 'Visual Sports Room' project to include public sports facilities. The project helps people in remote areas to enjoy sports through state of the art VR technology.
The ministry also aims to focus its attention on the growth of sports-related companies over the next five years.
It plans to expand its support for the entire period of a company's growth, especially for startups and small firms, in order for them to grow into global companies. And of course, through the support, the Ministry also aims to establish new jobs amid the sluggish employment situation in the country.
Won Jung-hwan, Arirang News.

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