Hyosung, North Jeolla Province to Support Game Ventures’ Inroads into Overseas Markets

Hyosung signed an MOU to support game ventures’ advancement into overseas markets with four organizations, including North Jeolla Province and HN Games at the Jeonbuk Creative Economy Center, in the afternoon of July 7. 

Hyosung will select game ventures or startups in the province and give supports for their advancement into overseas markets like China, creating new jobs and vitalizing the local economy.  

An annual increase of 70 million units in the distribution of smart TVs are creating a surge in the demand for contents in China. But the nation is suffering a shortage of contents supply.  It is analyzed that the smart TV game contents market will hit 25 trillion won.  

According to the agreement, Hyosung will invest one billion won out of the Hyosung Creative Economy Fund. The five organizations including Hyosung will select game developers in the region, provide them education and training services for game development and global advancement, and share the roles to sell the developed games in China, in addition to financial supports.