The ministry said the package was designed to limit damage to the culture, sports and tourism industries amid economic pressures such as high oil prices and inflation, while providing early support for livelihoods including those of grassroots artists. It also aims to spur domestic spending through discounts for movies and performances and support for lodging and travel, linking that demand to a rebound in regional tourism and the domestic economy.
To ease financing strains on tourism businesses facing rising costs, including from a weaker currency, the ministry will increase tourism-sector loans by 200 billion won, expanding the program to 837.5 billion won. It will also invest 28.1 billion won in overseas marketing to encourage foreign visitors to enter and stay in regional areas, boosting local consumption and economies. Additional funding includes 8.6 billion won for tourism startups and ventures and 3.1 billion won to expand the Youth Tourism Dure program.
To support a recovery in household spending, the ministry will issue 4.5 million movie discount coupons, budgeted at 27.1 billion won, worth 6,000 won each. It will also issue 400,000 performing-arts discount coupons, budgeted at 4.1 billion won, worth 10,000 won each, to help theaters and performance venues rebuild audiences.
For non-capital regions designated as areas with population decline, the ministry will provide an additional 300,000 lodging discount coupons, budgeted at 11.2 billion won. It will also expand eligibility for a worker vacation support program to include employees at mid-sized companies, allocating 4.2 billion won. A half-price travel support program for population-decline areas will expand to 30 locations from 20, with 4 billion won, to boost domestic demand and help restore sales.
The ministry also set aside funding to help artists and the content industry sustain activity amid a downturn. It added 2 billion won each for operating private visual and performing arts creation spaces and supporting creators, and for supporting touring exhibitions in regional areas. It will expand support for performances by young artists with 2.4 billion won, increase loans for artists’ livelihood stability to 32.78 billion won, and expand financial support for the arts industry by 30 billion won. It also allocated 700 million won to add staff for administering the artist activity certification system.
To counter a slowdown in the content industry, the ministry will invest a total of 38.5 billion won, including 26 billion won to support production of mid-budget films, 8 billion won for advanced production support, and 4.5 billion won for independent and art films. It will also increase support, by 6.3 billion won, for creation and production through regional Content Korea Labs and business support centers. The ministry said it will newly establish a 25 billion won youth content fund-of-funds to encourage investment in young “K-content” companies that are vulnerable during economic shocks.
To expand youth employment in the field, the ministry will increase support for internship positions at cultural and arts institutions, allocating 3.4 billion won. It will also launch new programs: a youth internship at literature museums (750 million won), training tourism personnel linked to industrial sites (850 million won), and an internship matching program for top talent in the content industry (1.9 billion won).
In sports, the ministry will add 4 billion won to its sports activity incentive program, known as Ttunteun Money, to cover an additional 80,000 beneficiaries. It will also increase funding for vouchers for sports classes for people with disabilities by 6.2 billion won, supporting 20,000 people with monthly tuition of 110,000 won. It will spend 9.5 billion won to roll out nationwide youth sports programs that use retired athletes and sports instructors as coaches.
Culture Minister Choi Hwi-young said high oil prices and inflation driven by the war in the Middle East were compounding difficulties across the culture, sports and tourism sectors.
“This supplementary budget is an investment to respond proactively to the crisis,” Choi said. He said he expects it to achieve two goals at once: stabilizing livelihoods for artists and the tourism and culture industries, and reviving domestic demand to help energize regional economies.
* This article has been translated by AI.
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