2024 MOCA Budget Confirmed at 6.9545 Trillion KRW... Expanded Support for Vulnerable Groups and Regions

The Ministry of Culture, Sports and Tourism's budget for next year has been finalized at 6.9545 trillion won. This is 213.7 billion won (3.17%) more than this year. On the 21st, the Ministry announced that the 2024 budget was approved by the National Assembly plenary session.

First, support funds for vulnerable groups and regions have significantly increased. New allocations include support for the Youth Culture and Arts Pass (17 billion won) and cultural and arts education support for culturally vulnerable and depopulated areas (8 billion won). Through the 'Youth Culture and Arts Pass,' the Ministry plans to provide performance and exhibition viewing benefits to 160,000 young people turning 19 years old.

Major Projects Changing from Next Year
[Photo by Ministry of Culture, Sports and Tourism]

The support amount for the 'Integrated Cultural Voucher,' which supports cultural life for vulnerable groups, will be raised from the current 110,000 won to 130,000 won. The 'Sports Lecture Voucher,' which subsidizes daily sports activities, will expand its support target and amount to 140,000 people and 100,000 to 110,000 won per month, respectively.

Employment for young artists will also be greatly expanded. The number of young performing artists active in six national art organizations, including the National Ballet Company and the National Opera Company, as well as two exclusive groups, will increase from the current 95 to 295. 1.3 billion won will be invested to support participation and related expenses for emerging artists not affiliated with galleries in art fairs. 9 billion won will be allocated to support regional performing arts groups to assist artists living outside the metropolitan area.

The budget for strengthening content competitiveness has also been significantly increased. The K-Content Fund investment will rise from 190 billion won this year to 340 billion won next year, and the budget for operating overseas content bases will greatly expand from 10.2 billion won this year to 221.9 billion won next year. Overseas expansion of the game industry will be strengthened (8.3 billion won → 13.3 billion won), with a total of 67.9 billion won invested in fostering the game industry. Through this, the Ministry plans to supply policy financing worth 1.74 trillion won to the domestic content market in 2024.

A new budget of 9.2 billion won has been allocated for content production using artificial intelligence (AI) technology. Along with large-scale regional performances by national art organizations (8 billion won), 6.2 billion won has been newly prepared to distribute various cultural programs to regional cultural facilities and workplaces. An 8 billion won budget has also been set for cultural and arts education targeting culturally vulnerable and depopulated areas.

Regarding next year's events such as the Gangwon Winter Youth Olympic Games, the Paris Olympics, and the Paralympics, support for national team training, including allowances, meal expenses, and overseas training costs, will be strengthened (51.5 billion won → 57 billion won).