SEOUL, Dec. 29 (Korea Bizwire) – South Korea opened an office cluster in Seoul on Tuesday to develop the country’s creative content industry and nurture its future talent, the culture ministry said.
The “Cel” cluster is located in a former office building of the Korea Tourism Organization in central Seoul and will house more than 90 startups by the end of this year, the Ministry of Culture, Sports and Tourism said.
“Cel” stands for “Creative Economy Leader” and “Cultural Enrichment Leader.”
President Park Geun-hye expressed hope that the office will lead the country’s creative content and eventually boost the country’s lagging economy.
“What we need is the growth engine for our new future that goes behind the growth paradigm we know,” Park said during an opening ceremony.
Park further noted that the office, which will provide consulting services for venture firms, will play the important role in the country’s content industry and eventually create more jobs.
About half of the companies will stay rent-free for the next two years, and all of them will have access to consulting services offered by the government for planning, marketing and management.
The ministry also said an academy will be opened next year to foster the next generation of leaders in the creative content industry.
The “Cel” Academy will open its temporary base in the office cluster in March before moving to its official location in eastern Seoul in 2017, according to the ministry.
A total of 45 students have been admitted into the inaugural class of the non-degree program in which they will learn and experiment with business ideas in various disciplines such as storytelling, performing arts, broadcasting, exhibitions, animation and character designs.
Student profiles range from high school graduates to those already with years of industry experience, the ministry said.
Each student will have access to an individualized curriculum, a stipend of up to 6 million won (US$5,100) and internship opportunities at venture startups housed inside the building during the two-year program, it added.’