This is a scene from the Hallyu (Korean Wave) convention KCON LA in Los Angeles that ran from July 26-28, 2024. (CJ ENM)
By Gil Kyuyoung
The country’s copyright trade last year posted a surplus thanks to the popularity of Hallyu (Korean Wave) content.
The Ministry of Culture, Sports and Tourism on March 19 said the industry last year finished USD 3.36 billion (KRW 4.9 trillion) in the black, up 29% from 2023 and the 12th straight annual surplus since 2013.
By sector, copyrights for research and development and software including games had a surplus of USD 2.84 billion (KRW 4.14 trillion) and those for culture and arts content such as music and videos a record-high USD 520 million (KRW 758 billion).
“Copyright is the cornerstone for the growth of the culture, art and content industries,” the ministry said. “We will further streamline copyright laws and systems and policy toward protection of copyrights abroad.”
gilkyuyoung@korea.kr
