Commercialization of Smart Media Services Including OTT... 1.15 Billion Support This Year

[Asia Economy Reporter Seulgina Jo] The Ministry of Science and ICT will announce the 2021 Smart Media Service Commercialization Support Project starting from the 5th to revitalize the smart media industry, including online video services (OTT). This year, 18 support tasks will be selected, with a total support amount of 1.15 billion KRW.

Any small and medium-sized developer with new smart media service ideas and development capabilities can apply for this public contest. If selected, they will participate in the ‘2021 Smart Media X Camp’ scheduled to be held online in April, where they will form a consortium with platform companies through an audition process.

This year’s support areas for the contest project are ▲General type (5 tasks, 30 million KRW per task) ▲Convergence type (7 tasks, 70 million KRW per task) ▲Broadcast content type (6 tasks, up to 85 million KRW per task) for smart media service commercialization support.

The Ministry of Science and ICT has changed the detailed procedure from last year by first selecting the supported companies and then providing opportunities for exchange and cooperation with platform companies through the Smart Media X Camp, securing sufficient service development time. Additionally, after the X Camp, various face-to-face and non-face-to-face meetings will be arranged for consortia between small and medium developers and platform companies to facilitate smooth cooperation.

Oh Yong-su, Director of Broadcasting Promotion Policy at the Ministry of Science and ICT, stated, “Over the past seven years, we have supported 170 smart media service commercialization projects, driving the activation of the domestic smart media industry.” He added, “We will continue to actively support the smart media field, which converges with new ICT technologies such as AI and big data, so that developers can achieve results and expand into the global market in the post-COVID era.”

The project briefing session will be held online and non-face-to-face on the 10th. Idea proposals can be submitted from the 5th to March 4th through the e-Naradoom system (www.gosims.go.kr).

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