The authorities of the South Korean city of Busan, together with the Korean IT Industry Development Agency, have launched a new program to support young game developers. Until the end of the year, they will help young developers pay for rental housing, reimbursing up to 50% of the rent, but not more than 250 thousand won (about $180 per month).
Under the terms of the program, developers under the age of 39 can apply for support, reports the Korean publication GameMeca. Applicants must live in Busan and work for a small or medium-sized gaming company with at least one office located in the city. Developers with any income and even those who already own their own housing can participate in the program. Officials hope that with the help of the program they will be able to make the city more attractive to young people.
Currently, there are 146 gaming companies operating in Busan, employing about 1.5 thousand people.
According to GameMeca, in 2024, the country's authorities plan to spend about $50 million to support game development, and another $10 million will go to promoting games from small and medium-sized studios outside of South Korea.
Until 2022, South Korea did not officially recognize the gaming industry as an area related to culture and art. In September 2022, 50 years after the adoption of the law on the development of culture and art in the country, changes were made to the document. According to the amendment's author and South Korean National Assembly member Cho Seung-lae, as of 2022, video games accounted for more than half of the country's exported content.
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