The Korea Cultural Heritage Administration plans to invest 445-point-nine billion won over the next five years in a move to revive major intangible cultural assets by 2017.

The administration plans to invest 83-point-four billion won in reviving intangible cultural performances, 76-point-two billion won in creating a foundation for traditional handicraft, and 82-point-nine billion won in revitalizing cultural education centers.

In particular, it will replace the term “intangible cultural properties” with “intangible cultural assets,” and will designate cultural assets, such as kimchi or arirang, as intangible cultural assets.

The administration will also expand the boundaries for function-oriented intangible cultural assets to include entertainment-oriented assets. It also will engage universities in its efforts, such as enhancing the ethnical identity of Koreans and developing the country's traditional culture.