Ministry of Culture, Sports and Tourism Selects '5 Core Regulatory Innovation Tasks' for Content Development

Selection of 5 Core Regulatory Innovation Tasks Considering Urgency and Public Demand
Including Online Video Service Self-Rating System and Expansion of Big Data Copyright Usage Convenience
Promoting Regulatory Innovation for Tourism and Content Job Creation Based on Field Communication

[Asia Economy Reporter Kim Heeyoon] The Ministry of Culture, Sports and Tourism has selected five major regulatory innovation tasks to promote the growth and development of the content industry and has begun prompt implementation.

On the 13th, the Ministry of Culture, Sports and Tourism announced that it will actively review field-centered regulatory proposals such as the introduction of a self-rating system for video content and simplification of the review process for proof of artistic activities, selecting five core tasks and embarking on regulatory innovation.

The five core tasks prioritized by the Ministry are ▲ introduction of a self-rating system for online video service content ▲ expansion of convenience in using big data copyrights ▲ simplification of the proof of artistic activities procedure ▲ relaxation of designation criteria for international conference complex districts ▲ and relaxation of building floor height standards for tourism pension businesses.

The five core tasks were selected to support new industry growth and overcome COVID-19 damages. In particular, urgency, public demand, and feasibility were among the various factors given priority.

The Ministry plans to persuade the National Assembly through government-party consultations to amend the "Act on the Promotion of Movies and Video Works" before the regular session of the National Assembly to introduce a self-rating system for online video service (OTT) distributed video content.

Additionally, as part of support measures for new industries such as Hallyu culture (K-Culture) and artificial intelligence (AI), the Ministry will also push for amendments to the "Copyright Act" to establish exemption provisions necessary to expand convenience in using big data.

In particular, the Ministry of Culture, Sports and Tourism plans to strengthen communication with the field through meetings in the content, cultural arts, and tourism sectors, while cooperating with the National Assembly and related organizations to secure effective momentum for the implementation of the core tasks.

Park Bo-gyun, Minister of Culture, Sports and Tourism, is speaking at a meeting of public institutions in the tourism sector held on the 8th in the conference room of the Copyright Protection Division Seoul Office of the Ministry of Culture, Sports and Tourism. Photo by Ministry of Culture, Sports and Tourism

Furthermore, to guarantee private sector autonomy, promote investment in tourism, content, and sports industries, and create new jobs, the Ministry will reorganize overall regulations, including those under the jurisdiction of other ministries. Regulatory reforms will be pursued to stimulate private investment in the tourism industry, which has been contracted due to COVID-19, through regulatory adjustments responding to inbound tourism demand and tax relief for tourist hotels, as well as to expand new investments in sports infrastructure such as stadiums.

Efforts will also be made to provide necessary information and establish institutional frameworks to revitalize the non-fungible token (NFT) market. While guiding NFT transaction parties on relevant copyright precautions, the Ministry plans to build legal and institutional foundations in consultation with related ministries to activate the art NFT market.

Moreover, improvements related to fostering Hallyu culture, such as ▲ flexible application of the 52-hour workweek system in the game industry ▲ expansion of tax credits for video content production costs ▲ relaxation of restrictions on large corporations' investments in the mother fund ▲ and application of special tax treatment for project investments, will be made in cooperation with related ministries.

To this end, a dedicated regulatory innovation task force (TF) will be formed and operated within the Ministry of Culture, Sports and Tourism. The TF plans to closely cooperate with relevant agencies to ensure that tasks requiring legal amendments are revised by the regular session of the National Assembly this year at the latest, and that amendments to enforcement ordinances and rules are implemented as early as possible.

Minister Park Bogyun of the Ministry of Culture, Sports and Tourism said, "Government regulatory innovation begins with bureaucrats relinquishing vested interests, and since creation is a process of artists breathing their soul into their work, we will approach regulatory innovation with a humble attitude that respects this. In the tourism and content sectors, we will actively communicate with the field and cooperate with related agencies to ensure that regulatory innovation leads to investment promotion and job creation."

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