Shinbo Provides 25 Billion KRW Guarantee Support for Music Content Industry

[Asia Economy Reporter Kwon Haeyoung] The Korea Credit Guarantee Fund announced on the 17th that it has signed a 'Financial Support Agreement for Revitalizing the Music Industry' with CJ E&M and the Korea Creative Content Agency.

This agreement was established to strengthen the competitiveness of the domestic music industry and systematically nurture music content companies. Through this agreement, CJ E&M will make a special contribution of 5 billion KRW to the Credit Guarantee Fund, and the Korea Creative Content Agency will recommend outstanding music content companies. The Credit Guarantee Fund plans to provide guarantee support of up to 25 billion KRW for music content businesses through special contribution guarantee agreements.

The target companies are cultural content companies related to the music industry, and through customized support at each stage of content planning, production, and commercialization, the fund will provide guarantee support of up to 1 billion KRW per company. Guarantee ratios and fees will also be preferentially applied. In addition, various linked services such as investment, insurance, and consulting will be provided.

Yoon Daehee, Chairman of the Korea Credit Guarantee Fund, said, "Through this agreement, we have created an opportunity for the Korean music industry, which leads the new Korean Wave such as K-pop, to take a step forward," and added, "The Credit Guarantee Fund will actively support small and medium-sized production companies that produce high-quality content despite difficult production environments and take the lead in the development of the music industry."

This content was produced with the assistance of AI translation services.