K-wave AI News

Hello and welcome to your AI guide to the latest cultural updates from Korea. Here's our top story.

Culture Minister nominee Chae Hwi-young has pledged to mobilize all policy resources to usher in a 300-trillion-won, or roughly 220 billion-dollar K-culture era to attract 30 million foreign tourists annually.

The promise came during his confirmation hearing at the National Assembly, where he highlighted the K-content industry as a core engine of the nation's economy.

To further expand the K-culture market, Chae said he will strengthen policy financing and tax incentives for content intellectual property development, while boosting investment in cultural technology R&D.

Chae also pledged to craft a new strategy for K-tourism, aiming to channel the global popularity of K-culture into increased travel to regional destinations across the country.

The number of monthly active users of major over-the-top, or OTT service apps in Korea has surpassed 20 million yet again, with the figure now becoming the new norm in the domestic streaming market.

According to mobile app market tracker WiseApp•Retail, the combined number of monthly users of leading OTT platforms reached nearly 20.9 million in June, up more than 20% from three years ago.

Netflix maintained its top position with almost 14 million users last month, capturing a 40% share of the market.

The National Maritime Museum of Korea is hosting a special exhibition titled "War on the Waves" through October 26, in celebration of the 80th anniversary of Korea's Liberation and the founding of the Navy.

The exhibition explores the history and operations of Korea's naval forces from the late Goryeo period to the late Joseon era.

Divided into three sections, it showcases a range of artifacts, including naval weapons, armor, books on military tactics, and iconic warships such as the turtle ship.

That's all from me. Stay tuned to the Kulture Wave.