Democratic Party at G-Star: "We Will Actively Persuade the Government on Gaming Industry Tax Credits"

Ruling Party Holds On-Site Meeting with Game Company Executives
"Government Negative on Tax Credits, but Will Persuade"

The National Assembly has announced its intention to actively persuade the government regarding the introduction of tax credits for the gaming industry.

The leadership of the Democratic Party of Korea and executives from the gaming industry are holding an on-site meeting at "G-Star 2025" held at BEXCO in Busan on the 14th. Photo by Noh Kyungjo

On the 14th, Democratic Party of Korea leader Jung Chungrae met with reporters after a meeting with the gaming industry at "G-Star 2025" held at BEXCO in Busan. He stated, "Assemblyman Cho Seungrae is planning to pass a comprehensive amendment to the Game Industry Act, which contains many provisions," and added, "Tax benefits are an area that requires consultation with the government authorities, so it is not easy to speak on this in advance."

Following this, Assemblyman Cho Seungrae said, "We plan to hold discussions with the government," and added, "Although the Ministry of Economy and Finance and other authorities are not positive, we intend to actively persuade them."

The industry has argued that practical government support, such as tax credits, is necessary. Cho Youngki, President of the Korea Association of Game Industry, said, "We are concerned about the continuous growth of the gaming industry," and added, "It is not easy to compete with global companies."

President Cho stated, "Other countries provide various forms of support at the government level, such as research and development (R&D) or production cost tax credits," and added, "Korea ranks fourth in the global gaming market, but there are criticisms within the industry that government support is insufficient." He emphasized, "We ask for active support from the government level."

Analyses suggest that the implementation of tax credits would increase investment and jobs in the gaming industry. According to the Korea Creative Content Agency's "Study on Improving Tax Support Systems for the Gaming Industry," the increase in investment due to tax credits is expected to reach a total of 1.5993 trillion won over five years. During the same period, it is predicted that 15,513 new jobs will be created.

Meanwhile, at the meeting on this day, industry participants included President Cho Youngki, Kim Byunggyu, CEO of Netmarble, Kim Yongdae, Vice President of Nexon Korea, Kim Jaehwan, Director of NHN, Kim Taeyoung, CEO of Webzen, Park Byungmoo, Co-CEO of NCSoft, Bae Taekeun, CEO of Neowiz, Sung Junho, CEO of Smilegate Holdings, Won Jaeho, CEO of Anchor Node, Jang Taeseok, Vice President of Krafton, Choi Kwanho, CEO of XL Games, and Han Sangwoo, CEO of Kakao Games.