Ministry of Culture, Sports and Tourism Enhances Effectiveness of OTT Support Policies

Minister Park Bo-gyun Meets Officials to Discuss Regulatory Innovation and Development Plans

[Image source=Yonhap News]

On the afternoon of the 3rd, Park Bo-gyun, Minister of Culture, Sports and Tourism, met with domestic online video service (OTT) representatives at the Copyright Protection Division's Seoul office meeting room to discuss regulatory innovation and development plans for the mutual growth of Hallyu content and domestic platforms. Attendees included Lee Tae-hyun, CEO of Wavve; Yang Ji-eul, CEO of TVING; Park Tae-hoon, CEO of Watcha; Park Jong-jin, President of iHQ; Song Byung-jun, Chairman of the Korea Drama Producers Association; Kim Tae-yong, Chairman of the Korea Broadcasting and Video Production Association; Han Se-min, CEO of AStory; Go Jung-seok, CEO of Eggs Is Coming; Lee Min-seok, CEO of Why Not Media; and Park Won-woo, CEO of D-Turn.

The Ministry of Culture, Sports and Tourism supports planning, development, production, and overseas expansion to intensively nurture competitive OTT content. The OTT specialized content production support, currently promoted with a budget of 11.6 billion KRW this year, will be expanded next year. In addition to the drama fund being established with a scale of 40 billion KRW, policy financing will be implemented to secure content intellectual property rights (IP). The meeting focuses on enhancing the effectiveness of support policies by reflecting industry opinions. A ministry official stated, "We plan to exchange various opinions to create an environment where OTT platforms and producers invest in and produce many quality works together."

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