Kocca's Projects This Year Shift to User-Centered Approach

Abolition of Midterm Evaluation... Increase in Credit Rating Score Weight and Removal of Performance-Based Qualification Restrictions
This Year's Budget Increased by 54.4 Billion KRW to 484.2 Billion KRW Compared to Last Year

The Korea Creative Content Agency (KOCCA) will shift its projects to a demand-centered approach this year in response to the spread of the novel coronavirus disease (COVID-19).

On the 25th, at an online briefing session on support projects, Director Kim Young-jun stated, "We will redouble our efforts to expand policy financing to resolve the chronic shortage of funds faced by content companies," and added, "We will establish an online environment that enables connection to the global market and business matching anytime and anywhere, turning the crisis brought by COVID-19 into an opportunity." He promised, "We will innovatively reorganize various project systems to reduce the burden on the industry and provide practical assistance to project recipients."

This year, KOCCA's budget is 484.2 billion KRW, an increase of 54.4 billion KRW compared to last year. By sector, the budget is allocated as follows: genre common (109.1 billion KRW), cultural technology (81.6 billion KRW), games (61.5 billion KRW), regional content (49.7 billion KRW), broadcasting (49.6 billion KRW), immersive content (49.0 billion KRW), and music (41.1 billion KRW). By function, the largest portion of 160.6 billion KRW is invested in production. Infrastructure receives 121.5 billion KRW, overseas expansion 41.2 billion KRW, and workforce development 34.8 billion KRW. An official explained, "Support for games and music by sector and for production by function has increased significantly compared to last year."

The industry's burden due to COVID-19 is expected to be considerably eased through system improvements. Intermediate evaluations have been abolished to encourage companies and workers to participate in creating a content industry environment. Instead, an intermediate inspection system has been introduced to provide an environment where companies can focus more on their projects. Credit rating scores will be adjusted upward, but performance-based qualification restrictions will be removed to give more companies opportunities.

Last year, KOCCA supported the production of 768 content projects, driving approximately 270 billion KRW in output. Although the spread of COVID-19 once posed a crisis, the agency shifted to non-face-to-face operations, supporting about 240 million USD in overseas expansion and attracting investment and loans worth approximately 81 billion KRW.

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