Korean Government Spends $91m On Pop Music

In times of rampant file-sharing, falling CD sales and economic recession, the South Korean government has awarded their music industry $91 million. A Korean version of the U.S. Billboard charts and Grammy-style ceremonies are planned to boost Korean pop music, and attempt to “globalize” K-pop.

Two new concert venues will be built in Seoul with 4,000 seats total, and a K-pop culture center with a 3,000-capacity concert hall is also planned for construction in Goyang City. The ministry will also provide karaoke equipment to 35,000 non-alcohol bars.

“It’s crucial to protect song writers from online piracy in order to globalize K-pop music,” an official of the ministry told AFP. A law in passed in 2006 against piracy has risen in activity last year, and now the ministry feels it’s time to help the music industry with tax payer’s money.

But is it the responsibility of government to save the music industry? Stepping in to revitalize the financial system or investing in infrastructure are probably better moves during an economic recession than investing in pop music.

Such a vast quantity given to pop artists and labels is perhaps irresponsible; you don’t see Obama throwing money at the Grammy’s or American Idol.

Is the money well-spent?

Photo via hojupjimong.wordpress.com
Source: TMT