S. Korea's content industry exports hit record level

▲ An exterior view of Maple Agit, Nexon's first PC bang themed around its flagship computer game MapleStory, in Seoul (Yonhap)

content industry-exports

S. Korea's content industry exports hit record level

SEOUL, Feb. 27 (Yonhap) -- South Korea's content industry exports hit a record high in 2024, fueled by the global boom of Korean pop culture, known as "hallyu," the government said Friday.

The Ministry of Culture, Sports and Tourism reported that the industry's exports totaled US$14.08 billion in 2024, up 5.5 percent from 2023. It marked the highest level since the ministry began tracking the data and the second consecutive record-breaking year.

During the same period, imports came to $915.56 million, resulting in a trade surplus of $13.159 billion.

The content industry is an umbrella term encompassing publishers, broadcasters, advertisers and firms producing music, computer games, animations, movies, musicals and other creative content.

The game industry remained the dominant force, accounting for 60.4 percent of total content exports, or $8.5 billion. The music industry followed with $1.8 billion, while the broadcasting and video sector earned $1.26 billion.

The content industry's total revenue also rose 2.1 percent to 157.4 trillion won (US$107.2 billion) from a year earlier, buoyed by stronger exports. Broadcasting and video accounted for the largest share with 24.99 trillion won, followed by knowledge and information services with 24.69 trillion won, publishing with 24.22 trillion won and gaming with 23.85 trillion won.

"Despite difficult global economic conditions, the growth of the industry's sales and exports once again demonstrates the strength and competitiveness of K-content," said Lim Sung-hwan, who oversees cultural industry policy at the ministry. "We will continue to support the industry so that it remains a key growth engine for the Korean economy and expands its global reach."

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