A long-term game industry development program was announced Wednesday designed to help South Korea become one of the three global gaming industry powers.

South Korean Culture and Tourism Minister Lee Chang-dong revealed the program in an academia-business joint debate session in Seoul that saw the attendance of some 30 game industry insiders and scholars.

Lee said that his ministry will set up six major business policy objectives for the next five years by investing 150 billion won to establish a solid game infrastructure with a goal of generating $1 billion dollars in gaming software exports and 100,000 new jobs by 2007.