Incheon Free Economic Zone Authority Signs MOU with DigiPen Institute of Technology to Promote e-Sports Cluster

[Asia Economy Reporter Park Hyesook] The Incheon Free Economic Zone Authority has recently embarked on creating an ecosystem for the rapidly growing e-sports industry.

According to the Incheon Free Economic Zone Authority on the 23rd, Director Kim Jinyong, who is on a business trip to the United States, met with Jason Chu, Chief Operating Officer of DigiPen Institute of Technology located in Redmond, Seattle, USA, on the 22nd (local time) and signed a memorandum of understanding for mutual cooperation.

The memorandum of understanding states that the world-renowned e-sports educational institution DigiPen Institute of Technology and the Incheon Free Economic Zone will mutually cooperate to establish an e-sports cluster within the zone.

DigiPen Institute of Technology is known as the "Harvard of the gaming world" and is a global university operating branches in Singapore, Spain, and other locations, recognized as the world's top university in e-sports education. DigiPen Redmond is evaluated as playing a decisive role in the creation of a regional e-sports industrial complex, not just a simple university campus.

Recently, as the global K-content market expands and the shift to a non-face-to-face and online economy accelerates after COVID-19, the e-sports industry is gaining attention as a new growth engine. In particular, it is a "recession-proof" industry, continuing rapid growth with increased mobile game usage time and expanded sales.

Kim Jin-yong, head of the Incheon Free Economic Zone Authority, is taking a commemorative photo after signing a memorandum of understanding for mutual cooperation with Jason Chu, Chief Operating Officer of DigiPen Institute of Technology in Redmond, Seattle, USA, on the 22nd (local time).
[Photo by Incheon Free Economic Zone Authority]

The e-sports industry has been a representative content industry growing more than three times faster (annual average 9.8%) than Korea's economic growth rate (annual average 3.2%) over the past decade, and it is a youth employment-friendly industry with a higher employment inducement coefficient compared to other industries.

In addition, actual e-sports clusters are being established worldwide as campus-centered "urban innovation districts," such as Cornell Tech campus on Roosevelt Island in New York, the MIT industry-academia cooperation model Kendall Square, and the U-District in Seattle.

The Incheon Free Economic Zone Authority plans to designate the e-sports industry as a strategic attraction industry and develop a cluster based on the memorandum of understanding.

Jason Chu, Chief Operating Officer of DigiPen Institute of Technology, said, "We are very pleased to cooperate with the Incheon Free Economic Zone Authority, which is the gateway to Korea and is building the most innovative city," adding, "We expect synergy between Korea's strong content market and DigiPen Institute of Technology's practical curriculum and talent development experience."

Kim Jinyong, Director of the Incheon Free Economic Zone Authority, stated, "We will strive to attract leading companies to practically establish the e-sports cluster through cooperation with the world-renowned e-sports institute of technology."