Korean 'Billboard Chart' and 'Grammy Awards'

In Korea, there will be an official chart and award like "Oricon Chart" of Japan and 'Grammy Award" of America. Also Popular Culture Center, which will be as great as Seoul Art Center, can be built in the near future. Education of copyright of music contents will be reinforced as well as related regulations.

Ministry of Culture, Sports, and Tourism (Minister: In-chon Yu) announced the plans of music industry promotion (2009~2013) for globalization of popular music to rank Korean music in top 10 of the world music market.

According to the statistical data of IFPI in 2007, America is the top in the world by taking about 31% of total market. But Korean music takes just 1% of the market, so Korea is ranked in 19th. Some of Korean musicians such as BoA, Dongbangsingi, and Rain have been working actively through the world but Korea has been under hard time due to illegal download of sound sources.
The plan is for extending size from market size of 840 billion won in 2008 to 1700 billion won in 2013 through continuous growth and reinforcing global competitive power like ▲Globalization of Korean music and reinforcement of international co-operation ▲ Activation of internal market of popular music ▲ Construction of Infrastructure and reinforcement of growth base with 3 strategies and 23 assignments by inputting the national treasury, 127.5 billion won.
In order to spread and fasten social concepts about copyrights of music contents, legal music download services (Culture Voucher) will be provided for trials with building more regional offices for regulation teams in order to reinforce regulations and criminal investigation activities. Also Asia Music Market will be made and three nations (Korea, China, and Japan) will hold the event by orders to support network of Asian music market. And Asia showcase of Korean popular music will be extended with creating new global market.

The Source : Koreacontent News Team