"Post-COVID-19 Content Industry Should Seize Opportunity for Structural Improvement"

The Content Promotion Agency Hosts Online Forum 'Talking About Content After COVID-19'

On the 21st, panelists are having a comprehensive discussion at the online forum "Talking about Content After COVID-19," held at the CKL Business Support Center of the Content Promotion Agency.
[Photo by Content Promotion Agency]

[Asia Economy Reporter Kim Heung-soon] The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency (KOCCA) live-streamed the online forum "Discussing Content After the Novel Coronavirus Disease (COVID-19)" on the official KOCCA YouTube channel on the 21st. This forum was an opportunity to discuss policy directions to turn the crisis faced by the domestic content industry due to COVID-19 into an opportunity.

First, Lee Yang-hwan, Head of the Policy Headquarters at KOCCA, gave a presentation titled "The Crisis and Opportunity of the Content Industry After COVID-19." He pointed out that "the content industry, which was expanding global cultural exchanges led by the private sector and erasing the boundaries between creators and consumers based on online platforms such as Over-The-Top (OTT) services and Social Network Services (SNS), is accelerating these changes due to COVID-19." He added, "The spread of digitalization and personalized non-face-to-face consumption culture after COVID-19 will have the greatest impact on the content industry," and suggested that "COVID-19 should be seen not only as a crisis but also as an opportunity to improve the industry's structure."

Kim Hyun-soo, Director at CJ ENM, introduced the successful case of last month's "KCON:TACT 2020 SUMMER," which was held with the participation of 4.05 million Hallyu fans from 153 regions under the theme "Globalization of K-Lifestyle." He explained, "The success factor of the non-face-to-face festival was overcoming spatial limitations by utilizing immersive content technology and enabling interactive participation between artists and consumers through the internet."

Kim Yong-woo, Manager at Google Korea, spoke on the topic "Opportunities in the Content Industry Viewed Through YouTube," explaining cases of increased global content consumption due to COVID-19 and emphasizing the influence of online distribution platforms.

In the comprehensive discussion, moderated by Professor Bae Jin-ah of Kongju National University, presenters joined Nam Young-sun, Head of PUBG, Seo Hyun-chul, Chief PD of Lezhin Entertainment, Lim Seok-bong, Team Leader at JTBC, Jo Dong-chun, Director at SM Entertainment, and Lee Hae-don, Director of the Cultural Industry Policy Division at the Ministry of Culture, Sports and Tourism. The discussants shared the current status of each content genre in response to COVID-19 and unanimously agreed that the spread of non-face-to-face content consumption culture presents a particular opportunity for K-content to gain more attention in the global content market. They also discussed government-level response measures to actively support this and resolve obstacles.

Kim Young-jun, President of KOCCA, stated, "Based on the discussions, we plan to prepare practical support measures so that the content industry can overcome the crisis and make a greater leap forward."

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