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Article: S. Korea to spend $90 million on pop music industry.
- Article from:
- YON - Yonhap News Agency of Korea
- Article date:
- February 5, 2009
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SEOUL, Feb. 4 (Yonhap) -- The South Korean government on Wednesday unveiled a 127 billion won (US$91 million) plan to prop up the country's pop music industry, which will include building two massive concert halls in Seoul. The five-year plan is aimed at activating the home consumption of local pop music and globalizing the industry to increase exports, officials at the culture ministry said. The government hopes to increase the market size to 1.7 trillion won by 2013 from the current 844 billion won, they said. The Korean pop music industry has been suffering from record low sales since 2000 due largely to the spread of illegal music downloads on the Internet. "The ...