Gyeongbuk Province Signs Business Agreement to Establish Video Industry Infrastructure

At Mungyeong Indoor Set... Province, Mungyeong City, and Bomnae Film Studio Sign MOU

Gyeongbuk Provincial Government Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Gwiyeol] Gyeongbuk Province signed a 'Business Agreement for the Establishment of a Video Industry Base' on the morning of the 25th at the Mungyeong Indoor Set.

On this day, about 30 officials including Governor Lee Cheol-woo, Mungyeong Mayor Shin Hyun-guk, and Moon Rudo, CEO of Bomnae Film Studio, attended.

This agreement was promoted to foster the development of the video industry through various cooperative projects such as the construction of a comprehensive film studio, securing national funds, and attracting private investment, thereby creating jobs and revitalizing the local economy and tourism.

The main contents of the agreement include ▲ administrative support for the construction of a comprehensive film studio ▲ attraction and promotion of film and drama shootings and related companies ▲ establishment of a cutting-edge video industry infrastructure.

The contracted company, Bomnae Film Studio, plans to lease land within the former Ssangyong Cement (located in Singi-dong, Mungyeong) to build shooting infrastructure such as indoor studios and outdoor open sets, and sequentially establish related auxiliary facilities such as souvenir shops and cafes.

Also, after this agreement, five related companies including Bomnae Film Studio, Bomnae Forest (medical and health), Nova Film (production), New Image (art), and Woori Style (costume and makeup) plan to relocate their headquarters to Gyeongbuk.

With indoor and outdoor shooting infrastructure established within the former Ssangyong Cement site and related companies relocating, numerous film and drama productions are expected to be consistently shot annually based in Mungyeong and nearby areas within the province such as Andong, Yecheon, and Sangju.

Through this, the annual direct consumption in related industries is expected to exceed 5 billion KRW, and the economic ripple effect is anticipated to be over 20 billion KRW, greatly contributing to regional economic revitalization and job creation.

The province plans to utilize the comprehensive studio as a local tourism resource once it is established under this agreement.

Furthermore, this agreement will serve as a catalyst to accelerate the 'Video Industry Cluster Development Project.'

The Video Industry Cluster Development Project aims to establish a permanent filming infrastructure for films and dramas centered in Mungyeong, where existing shooting environments are well established, including nearby areas such as Andong and Sangju.

Additionally, it plans to build creative centers and post-production facilities to create a one-stop production environment, with the project set to officially begin following a research study starting in August this year.

Governor Lee Cheol-woo of Gyeongbuk said, “With the entry of major overseas video content platforms such as Netflix and Disney Plus into the domestic market, the related market is rapidly growing and content demand is also surging. We are now in an era where cultural demand drives economic growth. We will lead K-Culture through Gyeongbuk’s cultural industries, including the video industry cluster, and further drive the growth of South Korea’s cultural economy.”

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