South Korea will invest 15 billion won ($14.4 million) this year in fostering its Ultra HD industry to secure a competitive edge before the expected sales boom from global sports events, the telecom ministry said Thursday.

The Ministry of Science, ICT, and Future Planning said it will inject 5.8 billion won to develop core devices needed in creating and transmitting UHD contents, such as cloud-based editing systems and a High Efficiency Video Coding encoder.

It will also allocate 2.2 billion won to install shared UHD equipment and allow content makers easier access to state-of-the-art devices.

To provide users with more choices in UHD contents, the government plans to support the remastering of movies and dramas.

Industry watchers expect a boon in UHD TV sales this year, with the Asian Games taking place in South Korea in October and the FIFA World Cup in Brazil in the summer. UHD TVs offer viewers displays with wider screens and higher resolutions.

The UHD industry is also cited as one of the highly anticipated sectors in the global display business, with top tech players all struggling to prove their technological advantages.

Partnering with broadcasters and producers, the government will raise a 7-billion-won fund to help local UHD content providers tap overseas markets. The fund may be increased depending on the participation by private firms, the ministry said.

South Korea also plans to foster some 150 UHD experts through customized education programs and send 10 candidates for further training at overseas UHD-related firms.

SBS, a Seoul-based broadcaster, said it will air major matches in UHD, while KBS and MBC plan to transmit key events in the Asian Games in the cutting-edge resolution. The government is set to release its full UHD-vitalization plan by next month. (Yonhap)