Seoul mayor Oh Se-hoon has announced a plan to set up a fund worth 100 billion won or more by 2011 to make Seoul a hub of the global cartoon and animation industry.

He made the remark in a speech at the 12th Seoul International Cartoon and Animation Festival (SICAF) that opened Wednesday in southern Seoul.

He said half of the funds will go to boosting the animation and character industry.

The mayor also expressed hope that the festival will help promote Seoul's brand value as a leading city in the cultural content industry.

More than one-thousand-300 animated films from 63 countries will be presented at this year's SICAF, the most ever in the event's history.