President Lee Jae Myung announced on Monday his administration's commitment to developing comprehensive policy measures designed to bolster South Korea's cultural industry through targeted fiscal policies, tax incentives, and regulatory reforms. The president emphasized that these measures would be specifically tailored to support different types of content creators and cultural sectors across the nation's rapidly expanding entertainment landscape.
During a high-level meeting with his senior aides, President Lee highlighted the remarkable global success of Korean culture, which has transcended traditional boundaries to encompass K-pop music, television dramas, films, cosmetics, and cuisine. He noted that South Korea's vibrant democratic system has also garnered significant international attention, contributing to the country's enhanced global standing and soft power influence.
"The status and appeal of the Republic of Korea have risen thanks to the popularity of K-culture," President Lee stated, using South Korea's official designation. "We are standing at the threshold of becoming a cultural power." His remarks underscore the government's recognition of the cultural sector as a critical driver of national prestige and economic growth.
The president issued specific instructions to his senior staff to develop comprehensive measures that would provide robust support to both the cultural and creative sectors. He emphasized the importance of exploring innovative approaches to create synergy among related industries, recognizing the interconnected nature of modern cultural production and distribution. This holistic approach reflects the administration's understanding that success in the cultural sector requires coordination across multiple industries and government departments.
"We have to speed up innovations in financial policy, taxation and regulations," President Lee declared, signaling his administration's commitment to rapid implementation of reform measures. This directive suggests that the government plans to move quickly to address existing barriers that may be hindering the growth and development of cultural industries.
In addition to policy reforms, President Lee placed particular emphasis on the need to enhance social safety nets for artists and content creators, whom he described as the "backbone" of the industry. This focus on creator welfare indicates the administration's recognition that sustainable growth in the cultural sector requires not only favorable business conditions but also adequate support systems for the individual artists and creators who drive innovation and content production in South Korea's cultural industries.
