The government will expand policy financing for K-culture to 700 billion won ($504 million) next year and invest 900 billion won ($648 million) to support artists' creative activities. It has also allocated 65.9 billion won to develop five mega tourism zones aimed at drawing foreign visitors beyond the capital region.
Under the 2027 budget proposal approved by the Cabinet on the 1st, spending on culture, sports and tourism was set at 11.61 trillion won ($8.4 billion), up 20.4%, or 1.97 trillion won, from this year.
By sector, the culture and arts budget rises 30.1%, or 1.37 trillion won, to 5.94 trillion won. Sports spending increases 7.9%, or 134.6 billion won, to 1.83 trillion won, while tourism climbs 18.8%, or 277.6 billion won, to 1.76 trillion won. The national heritage budget grows 11.2%, or 167.4 billion won, to 1.66 trillion won, and cultural tourism rises 3.6%, or 14.3 billion won, to 416.7 billion won.
A total of 2.8 trillion won ($2 billion), up 600 billion won from this year, will go toward strengthening the global competitiveness of K-content and revitalizing the tourism industry. Policy financing for creating global content expands to 700 billion won from 500 billion won this year, and 10 billion won has been earmarked to support the growth of new content companies.
The budget also covers the creation of global intellectual property, overseas market development and tailored growth support for content such as indie music and games. New programs include 6 billion won for global frontier game production and 16 billion won for indie music support, including the creation of a hub. Film support spending increases to 172.6 billion won from 133.2 billion won.
To broaden public access to culture, the government will expand its youth culture and arts pass to cover all young adults. Eligibility widens from the current 19 to 20 age bracket to 19 to 34 next year, the range defined as young adults under the Framework Act on Youth, and the pass can be used for sports in addition to performances, exhibitions, films and books. The related budget rises sharply to 792.5 billion won from 40 billion won.
Spending on repairs and maintenance for the preservation and management of national heritage increases by 20.6 billion won from this year, while disaster and safety management spending rises by 3.7 billion won. A newly created 7.1 billion won allocation will fund regional national heritage programs, including a pilot run of 10 stay-type national heritage lodgings, to expand opportunities to experience and enjoy heritage sites.
