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Korea aims for world video games domination

Will Korea be winning the majority of their time soon?

If asked to name any of South Korea's biggest exports, we bet you'd be hard pressed to come up with much beyond ships and anything with a Samsung badge on it, but would video games feature in that list?

The Korean government clearly hopes gaming is about to become a significant source of national income, as it has just announced a cash injection of 350 billion Won (£162 million) for the industry there.

Grand ambitions

Korean culture minister Yu In-chon announced this week that the money will be used to fund 60 new gaming projects that he hopes will raise the domestic games profile above those of neighbours Japan and the US.

While such ambitions might seem unduly lofty, it should be noted that a previous target to generate $1 billion (£682 million) worth of gaming exports by 2010 was met two years early.

Korea's next official games target is to push that up to $3 billion (£2 billion) by 2012.