Gov't to break ground on 'hallyu' park

SEOUL, May 20 (Yonhap) -- South Korea started construction of a "hallyu" park Friday that aims to provide a comprehensive experience to foreign visitors who want to know more about the pop culture sweeping through much of Asia and the rest of the world. K-Culture Valley, a cluster of various cultural facilities to be located in Goyang, Gyeonggi Province, aims to promote hallyu and become a must-see destination for for fans of Korea's unique pop culture. The Korean Wave, or "hallyu," refers to the popularity of TV shows and music that have raised hordes of fans in Asia, Europe and the Americans. President Park Geun-hye also attended the groundbreaking ceremony for the zone, which is slated to be completed in 2017. "While cultural content are excellent export goods as they are, the indirect wealth generated from the industry also exceeds our imagination," Park said during the event. Citing the mega-hit drama "Descendants of the Sun," Park said while exports of the drama itself stood at just 10 billion won (US$8.4 million), the shipment of other goods shown on the TV show led to economic effects worth 1 trillion won and generated 4,000 jobs. "Cultural content are beneficial for the country as they expand exports and attract more tourists," Park said, adding such goods can also help improve the perception of South Korea. "During my latest visit to Iran, I noticed the country's deep interest in South Korean dramas, taekwondo, dress and food," she also said. "Our top-tier cultural content and hallyu are contributing to the happiness of mankind and bolstering the reputation of South Korea." Park also vowed to make K-Culture Valley the bridge to the revitalization of the economy and the creation of jobs for young adults. The government said the K-Culture Valley will especially target overseas visitors, adding they can experience the past, present and future of Korean culture at the venue. The project reflects the government's efforts to tap the cultural industry as a new growth engine, the presidential office Cheong Wa Dae said. The presidential office also said it expects the project to generate 56,000 jobs over the next five years and create an economic effect of 8.7 trillion won. The valley will attract 5 million tourists every year, it added. Local conglomerates, including the entertainment giant CJ Group, will be in charge of establishing infrastructure and operations, while small and medium-sized firms will provide needed content. The project is also in line with the country's creative economy policy goal set forth by the president, which aims to find new sources of growth by merging various industrial segments. colin@yna.co.kr (END)