Representative Kim Seung-soo of the People Power Party pointed out that government support for the gaming industry falls far short of its contribution to exports. While games account for more than 60% of K-content exports, their share of the budget is less than 7%, and discussions within presidential committees have also sidelined the industry.
During the parliamentary audit of the Korea Creative Content Agency (KOCCA) by the National Assembly's Culture, Sports and Tourism Committee on October 12, Rep. Kim criticized KOCCA President Kim Yoon-ji, stating, "The government treats gaming like an 'abandoned child.'"
The first point Rep. Kim raised was the gap between exports and budget allocation. According to the Ministry of Culture, Sports and Tourism's '2025 Content Industry Survey (as of 2024),' the gaming industry accounted for $8.50347 billion, or 60.4%, of the total $14.07543 billion in content industry exports in 2024. However, according to figures compiled by Rep. Kim's office, gaming-related funding accounted for only 112.3 billion won, or 6.9%, of the 1.6177 trillion won content industry budget for 2026. Rep. Kim also noted that support for the gaming industry was completely omitted from this year's supplementary budget.
He also took issue with budget cuts for the coming year. During the hearing, Rep. Kim stated, "The 7.5 billion won allocated for purchasing AI tools to support startups was completely slashed from next year's budget," adding, "Budgeting for talent development programs was also entirely cut."
Rep. Kim also brought up the industry's exclusion from policy discussions. According to Rep. Kim's office, subcommittee meetings of the Popular Culture Exchange Committee under the President were held 23 times over the course of a year, but gaming-related meetings accounted for only two of them. Rep. Kim criticized the government for touting the expansion of K-content exports while effectively "passing over" gaming, which accounts for the largest share.
Details also emerged regarding how figures were altered during document submissions. Rep. Kim said, "While the music subcommittee met eight times, the agency initially submitted data claiming there were no meetings for the gaming subcommittee, only to immediately amend it to two meetings after I pointed it out." He added, "Even on the Culture and Arts Policy Advisory Committee formed in November last year, the gaming subcommittee was the only one that didn't hold a single meeting."
The sale of Wemade's stake was also brought to the table. Rep. Kim expressed concern that as Wemade's shares are transferred to Chinese capital, its flagship IP 'Mir' is effectively being handed over to China as well. According to data from Rep. Kim's office, Wemade has generated approximately 100 billion won annually from Mir IP licensing, and Boston Consulting Group (BCG) previously estimated the Mir IP market size at around 6.7 trillion won. Rep. Kim said, "While the market values it between 6 trillion and 9 trillion won, it was sold at a bargain price of 920 billion won."
On June 30, Wemade announced that founder and Chairman Park Kwan-ho signed a share purchase agreement to transfer his 39.33% stake to Neopulse. The transaction is valued at 920 billion won. Neopulse is an investment platform wholly owned by Hong Kong investment firm Shengsong Investment, which previously acquired a 0.92% stake in existing Wemade shares last year. The deal is scheduled to be finalized on October 30, after which Neopulse will become the largest shareholder with a combined 40.25% stake.
Rep. Kim also brought up President Kim's past statements. He pointed out that while President Kim named securing outstanding content IPs and expanding their value as key to K-content's success during a press conference marking her 100th day in office on September 17, she appears to have neglected a situation where a leading domestic IP is being sold off cheaply to foreign capital. Rep. Kim asked about plans to restore Korea's standing as a gaming powerhouse and measures to ensure employment stability for Wemade employees, while requesting KOCCA to actively push for sufficient budget allocation for gaming industry support in next year's budget formulation.
President Kim replied, "We are continuously paying close attention," adding, "In particular, we will continue to do our best to discover IPs and expand new businesses in the gaming industry."
