The Korea Times reports that South Korea has extended its term of copyright as required by its Free Trade Agreement with the United States. The government has pledged to allocate 160 billion won for the publishing industry to deal with the increased costs associated with the extension.
The Cost of Copyright Term Extension
One Comment
Recent Posts
Grocery Shopping While Jewish 
Privacy Lost: How the Government Deleted Bill C-11’s Key Privacy Principle Just Two Months After Passing it Into Law 
Out of Nowhere: TIFF Undermines Artistic Freedom of Expression With Forced Name Change of October 7th Documentary 
TIFF Removes October 7th Documentary Film From Schedule Citing Implausible Copyright Clearance Concerns From Hamas Terror Footage 
Carney’s Digital Recalibration: How the Government is Trending Away from Justin Trudeau’s Digital Policy
By comparison…
160 billion won converts to approximately 170 million in US dollars. However, the U.S. economy is roughly 15 times large (GDP) than Korea.
By this measure, the cost to the U.S. pubishers of term extension was about $2.5 billion dollars.