Issue Focus

The Ministry of Culture, Sports and Tourism, together with the Ministry of Science and ICT, has announced the creation of the 'K-Content & Media Strategy Fund' with a substantial budget of 600 billion won. This initiative aims to empower domestic content and media companies by providing them with necessary financial support and securing intellectual property. The establishment of the fund comes as a strategic move to help domestic firms emerge as leading players in the global OTT platform market, enhancing their position as broadcast content IP leaders worldwide.
The launch event, held at CKL Stage in Gwanghwamun, Seoul, was attended by representatives from eight major organizations and companies, including the Korea Development Bank, Industrial Bank of Korea, KBS, JoongAng Group Consortium, KT, SK Broadband, LG Uplus, and CJ ENM, alongside Growth Funds Management. With 80 billion won in government funding and an additional 200 billion won from corporate partners, the plan is to build a mother fund and draw in a further 400 billion won in private investments.
The ministries highlighted the strategic importance of this fund for strengthening the competitiveness of the broadcasting and media industry globally, especially given the escalating production costs and intense market competition. Minister Yu Sangin of Science and ICT and Minister Yoo Inchon of Culture, Sports and Tourism reiterated their dedication to nurturing global-caliber content companies through this ambitious initiative.