Issue Focus

The Ministry of Science and ICT, in collaboration with the Ministry of Culture, Sports and Tourism, has launched the "K-Content Strategic Fund" aimed at aiding domestic content and media companies in securing financing and intellectual property (IP) rights. Major contributors to this initiative include Korea Development Bank, Industrial Bank of Korea, KBS, SLL JoongAng, KT, SK Broadband, LG Uplus, CJ ENM, and Korea Growth Investment Corporation.
This fund is designed to position Korean media companies as global leaders in content IP, particularly amid the intense competition from global OTT platforms. The establishment of this strategic fund underscores the critical role of the broadcasting and media industry as a primary export sector, requiring robust policy funding to support its global expansion.
Science and ICT Minister Yoo Sang-in highlighted the difficulties broadcasting and media companies face due to increased competition and rising production costs and noted that the fund is crucial for enhancing the global competitiveness of Korean broadcasting content. The ministries have a target to finalize the fund's formation and management strategy within the month and aim to initiate sub-fund selections by the end of the year.