$200 million pumped into Korean games industry

350 billion won ($200m) is being invested into the Korean games industy by the nation’s government, Gamasutra is reporting.

The investment is set to last until 2012, with the Korean government hoping to expand the country’s games exports to $3.39 billion a year – placing the nation among the three biggest games markets in the world.

The news emerged in Korean publication Digital Chosunilbo, which quoted culture, sports and tourism minister Yu In-chon. The $200 million fund is said to be one of 60 projects that are intended to grow Korean’s games industry.

Korea’s plans follows a report from the UK’s National Endowment for Science, Technology and the Arts, which stated that the UK was at risk of being pushed behind Korea in the global standings.