South Korea's Creative Economy Online Brings 30 Billion Won

Nearly 30 billion won about (US$27 million) in revenue was generated from an online platform to commercialize creative ideas in the past three years, the science ministry said Wednesday.

In September 2013, the government launched the website, "creative economy town," that invites anyone to post and market creative ideas. The goal of the website was to boost the local economy by turning innovative ideas into businesses through science and technology, while generating business opportunities by converging different industries, according to South Korea's News Agency (Yonhap).  "Ideas from the creative economy town were commercialized and generated 26.7 billion won in profits and attracted 17.8 billion won in investment," the Ministry of Science, ICT and Future Planning said. 

More than 3.5 million people visited the website during the period and the town has received 37,452 ideas, 11,892 of which were translated into successful businesses and intellectual property, officials said. "I hope that the creative economy town will act as a platform to further spread the creative economy," Science, ICT and Future Planning Minister Choi Yang-hee said. 

The project is part of President Park Geun-hye's centerpiece "creative economy" policy that seeks new and inventive business opportunities and more jobs through the fusion of information technology and other industries.

Source : QNA