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Park vows to strengthen support for cultural products

All News 19:17 March 02, 2016

SEOUL, March 2 (Yonhap) -- President Park Geun-hye said Wednesday that the government will strengthen support to the production and distribution of cultural goods that can breathe new life into the national economy.

Park said the move is part of the country's efforts to further spread its culture around the world.

"I ask you to join forces to ensure that we can move toward an era of new takeoff bolstered by the power of creation and culture," Park said at the exhibition of Korean cultural and industrial products in downtown Seoul.

The chief executive made clear that she views the creation of attractive cultural contents that make full use of South Korea's traditional culture and technological know-how as a key component in prevailing on the global market.

"Nowadays, locally made products are recognized around the world for their high quality, innovation and excellent value," the president stressed. "The time is now opportune to strive to for a 'Korean premium' for locally made goods."

A Korea premium refers to locally made products fetching higher prices on the international stage.

Her comments came as South Korea's pop culture has gained popularity in Asia, Latin America as well as central Europe in recent years, a move that experts said could make fans of the Korean wave or "Hallyu" become consumers of South Korean goods down the line.

South Korea has so far set up a center aimed at combining culture and technology to encourage young people to create cultural products. Cheong Wa Dae, South Korea's presidential office, said a total of 35 cultural products have been made at the center.

Asia's fourth largest economy has also established 17 innovation centers across the country to match up local startups and venture firms with conglomerates, which can provide resources to smaller companies so that they can turn creative ideas into real businesses.

Park expressed confidence that South Koreans can make excellent cultural products at those hubs by fusing culture and technology.

Besides the president the country's culture and agriculture ministers, the head of the Presidential Committee for Cultural Enhancement and businesses leaders were present at the opening ceremony held at the Dongdaemun Design Plaza.


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