Korea’s 2027 culture budget will amount to a record 9.6 trillion won ($6.9 billion), representing a 22.6% increase from last year’s 7.9 trillion won. The budget emphasizes supporting youth access to cultural experiences, with the Youth Culture Pass eligibility expanding from ages 19 and 20 to 19-34, allowing 9.2 million young people to benefit.
Key allocations include a 44.6% boost in funding for the culture and arts sector to 3.9 trillion won, while the content sector will see a 9.5% increase to 1.6 trillion won. The tourism sector is set to receive 1.5 trillion won, with an emphasis on regional areas.
A new initiative will financially support the livelihoods of certified artists, raising the budget to 31.1 billion won for better artistic activity sustainability. The plan also aims to double investment in domestic Intellectual Property and strengthen collaborative projects with foreign production teams.
Overall, the budget reflects a commitment to enhance Korea’s cultural landscape and boost regional tourism, making it a pivotal part of the government’s cultural policy.
