Posted : 2021-01-14 16:46
Updated : 2021-01-14 18:06
Culture Minister Park Yang-woo speaks during a virtual sports ministers meeting with his Japanese and Chinese counterparts in Seoul, Dec. 24. / Courtesy of Ministry of Culture, Sports and Tourism
By Park Han-sol
The government will create funds worth a total of 298.5 billion won ($271 million) this year on aid to the culture, sports and tourism industries that have been hit hard by the COVID-19 pandemic, the culture ministry announced Thursday.
With the Korea Fund of Funds, where the government funding for local small and medium-sized enterprises aims to encourage private sectors investment, the Ministry of Culture, Sports and Tourism will target its budget on businesses heavily affected by the coronavirus, and move up its execution by a month to support their speedy recovery.