Nominee for Culture Minister targets ambitious 300 trillion won Korean culture industry
In a significant move for South Korea, tech platform and tourism expert Chae Hwi-young has been nominated to lead the Ministry of Culture, Sports and Tourism. If appointed, he would be the first private sector expert to head this ministry, marking a new era for the Korean culture industry.
Chae's vision is to integrate artificial intelligence (AI) into the Korean content industry, aiming to expand it to 300 trillion won (approximately $215 billion). He believes that AI is a key tool to modernize and transform cultural sectors such as K-pop, K-dramas, games, webtoons, and publishing, which together generated 154 trillion won in revenue in 2023, growing annually by 5-6%.
Chae's AI strategy is threefold: AI-based content creation, optimizing production processes, and improving distribution. By enhancing the development of cultural products, optimizing production, and using AI to improve accessibility and reach of Korean culture globally, Chae aims to future-proof Korean culture and fuel substantial market growth.
Moreover, Chae plans to establish an innovation strategy for AI content creation, production, and distribution. He also emphasizes the importance of creating AI training datasets that incorporate Korean history and culture.
In addition to his focus on AI, Chae plans to make access to culture, sports, and travel a basic right in everyday life. He aims to improve convenience throughout the travel experience, from arrival to departure, while pushing innovation in travel services. Chae also plans to build an innovative tourism ecosystem by supporting the digital and AI transformation of tourism businesses and streamlining outdated regulations.
Chae Hwi-young's ambitious plans for the Korean culture industry are grounded in his personal tech expertise and the government’s ambition to elevate Korea’s culture industry to a core national industry with enormous economic impact. However, he has denied allegations of real estate speculation and any possible connection between his daughter's employment at a US-based Naver affiliate and his professional role.
[1] Source for revenue and growth rate of the Korean content industry [2] Source for the impact of the Korean culture industry on the economy [3] Source for Chae Hwi-young's AI integration strategy [4] Source for Chae Hwi-young's focus on digital transformation and personalized tourism services
- Chae Hwi-young, aiming to expand the Korean content industry to 300 trillion won, intends to use technology, specifically AI, to modernize and transform various sectors such as K-pop, K-dramas, games, webtoons, and publishing.
- In addition to his AI strategy, Chae plans to make culture, sports, and travel a basic right in everyday life, improving convenience and pushing innovation in travel services, while supporting the digital and AI transformation of tourism businesses.
