HA NOI (VNS0— Vietnamese and S Korean experts have exchanged opinions on how to develop the digital content industry in Viet Nam with experience from S Korea, where the sector contributed significantly to the national economy.
At a seminar on digital content industry links between Viet Nam and South Korea on Wednesday in Ha Noi, it was reported that in 2011, the industry posted a turnover of over US$1 billion with the participation of between 500-600 businesses, generating over 60,000 jobs.
The fledgling digital content industry had potential to grow and deeply influence many socio-economic aspects, contributing significantly to economic development, said Information and Communications Deputy Minister Nguyen Minh Hong.
Hong said the industry accounted for only 10 per cent of the total revenue from the IT sector, but digital content had enjoyed impressive growth of around 20-40 per cent annually over the past 10 years.
"The seminar is a chance to have an in-depth look at the current situation of Viet Nam's digital content industry and co-operation potential between S Korea and Viet Nam," he stressed.
Nguyen Hong Truong, vice president of IDG Ventures Viet Nam, said his company had invested in more than 40 IT companies in Viet Nam, adding that in the last five years, many investment funds and international companies had begun looking for opportunities to promote their investment in the country's digital content industry.
Last year, despite the global downturn, IT industry revenues hit more than $23 billion, an increase of 70 per cent over the previous year.
Choi Youn Chel, a representative of the Korea Creative Content Agency, said S Korea was a global leader in the digital content industry where it planned to focus on the fields of personalised industry, three-dimension (3D) and virtual reality.
S Korea has the leading digital content industry in the world, with a market value estimated at nearly $3 billion in 2012.
Choi said more and more S Korean businesses were expanding their investment and co-operation in Viet Nam's digital content industry.
The event, organised by Viet Nam's Ministry of Information and Communications, is part of a co-operation programme in information-technology between the two countries. — VNS