The government has decided to create a 55-billion won fund to foster the country’s computer graphics industry.

The Ministry of Science, ICT and Future Planning announced a set of plans to promote the industry on Wednesday during a meeting of chiefs of economy-related ministries at the government complex in Seoul.

The ICT ministry and the Ministry of Culture, Sports and Tourism plan to raise ten billion won and 40 billion won, respectively, next year to create the fund.

Using the fund, the culture ministry will mainly invest in content or businesses based on computer graphics, while the ICT ministry will invest in film production companies which promise to donate some of their profits to computer graphics companies.

The government will also support companies lacking research and development capabilities by linking them to state-funded research institutes for joint research and development.

In addition, the government decided to provide active support for the virtual reality game industry.