In a follow-up to thesupport plan announced by South Korea's Ministry of Culture and Tourism in January, ministerKim Myong-gon announced the Film Industry Mid-to-Long-term Development Plan onMonday (Oct 23).

Speaking at a joint pressconference between the Ministry and ruling Uri Party's Special Committee forKorean Film Development, Kim outlined the plan which calls for Korean films tohave a 3% market share of the world market by 2011, while maintaining a 50%share in the local market, which should be grown to a size of $3bn.

The plan, which also aims tohave Korean film exports increased to $300m, involves a total budget of $500mcreated 40% from national government funds, 40% from re-instated cinema tickettaxes (which are to be 3-5% of ticket costs), and 20% from the previouslyestablished Film Promotion Fund.

The six key elements to theplan are: (1) gaining diversity in Korean films, (2) creating a stableinvestment environment, (3) nurturing filmmakers / technology and providingsocial security for industry professionals, (4) increasing exports, (5) equallydeveloping regional film industries, and (6) improving laws and taxationsystems.