Abstract
It is a very strategic and efficient policy for Korea, a small country with few natural resources, to develop information and communication technology (ICT) as an alternative source of development. The surprisingly rapid development of the ICT industry is a result of long term and optimal RD Korea IT Promotion Agency (KIPA) 2004). As a narrow definition, digital content means digitalized information which includes digital movies, digital music, video games, software, and so on. The digital content industry is distinct from manufacturing industries as the products are intangible goods like these. As a broader definition, digital content includes products from cultural industries and all the services provided by ICT industries. In many countries, including Korea, the digital content industry is considered as one of the most promising industries due to its huge added value. In 2005, the total market size of the global digital content industry was about 243 trillion dollars, and the compound annual growth rate (CAGR) from 2005 to 2010 is expected to be about 15% (KIPA 2006b). The market size in Korea has grown to 800 billion dollars with CAGR of 29.3% from 2001 to 2005 (KIPA 2006a). In addition, the market
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