South Korean lawmaker says gaming industry suffers 5.5 billion yuan in annual losses from Chinese capital

South Korean lawmaker says gaming industry suffers 5.5 billion yuan in annual losses from Chinese capital
Recently, South Korean Congressman Jeon Byung-hun issued a statement at the "Revitalizing the Crisis Game Industry Symposium" saying that the South Korean game industry has reached a life-or-death moment. The gradual expansion of the influence of Chinese capital has caused the South Korean game industry to lose more than 5.5 billion yuan each year. Congressman Jeon Byung-hun summarized the impact of the inflow of Chinese capital and the introduction of games. Due to the expansion of the influence of Chinese capital, the income and investment of the local game industry have been decreasing. According to his statistical materials, due to the changes in the industrial structure, South Korea loses an average of 1 trillion won in mobile games each year, and web games lose 300 billion won due to various regulations of the game, that is, the domestic game market in South Korea loses about 1.3 trillion won each year.
Although the introduction of Chinese capital is beneficial for the Korean game industry to enter the Chinese market, the loss of talent and technology will also cause Korean game companies to lose their dominance in the world game market, resulting in low competitiveness. He accused: "The environment of the Korean domestic game industry market has deteriorated rapidly in the past 1-2 years, and even reached a critical moment, all because of the growing influence of Chinese capital." Representative Jeon Byung-hun believes that "the game industry accounts for 55% of Korea's export industry and should become a representative industry of Korea. It should also be part of the 'representative industry of the creative economy' established by President Park Geun-hye. If the Korean game industry is rejected, not only will Korea's information industry lose its future, but the younger generation will also lose employment opportunities. In order to change the excessive restrictions on the Korean game industry, it is necessary to reset the revitalization policy of the game industry." In the comment section of this news report in the Korean media, many Korean netizens expressed their agreement with Representative Jeon Byung-hun's argument.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.

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