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Creative Industries Internationalization Strategies of Selected Countries and Their Policy Implications

Author

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  • Kim, Jeong-Gon

    (Korea Institute for International Economic Policy)

  • Kim, Eunji

    (Korea Institute for International Economic Policy)

Abstract

Along with the emergence of knowledge-based economy, importance of nonvisible production factors, such as knowledge and creativity is broadly recognized. With the spread of such recognition, the concept of creative industries, which includes cultural industries and contents industries, and even IT and R&D services, has been diffused over the world. Identifying creative industries as an industrial sector, which is composed of heterogeneous sub-sectors, countries have come to find that creative industries are new sources of job creation and have the potential to lead cross-industry innovation. For the case of Korea, creative industries take a large portion of the economy, and become a new growth engine. For example, cultural contents industries' value-added (KRW 33 trillion and 410.4 billion) accounts for about 2.7% of the GDP. If information industries, such as software as well as R&D and ICT equipment are included, their portion in the GDP reaches 7.1% in 2011.

Suggested Citation

  • Kim, Jeong-Gon & Kim, Eunji, 2014. "Creative Industries Internationalization Strategies of Selected Countries and Their Policy Implications," World Economy Brief 14-26, Korea Institute for International Economic Policy.
    • Handle: RePEc:ris:kiepwe:2014_026
    DOI: 10.2139/ssrn.2488416
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