Ministry of Science and ICT Launches 'OTT Overseas Expansion Foundation' Project
The Ministry of Science and ICT announced on the 27th that it will promote the 'Online Video Service (OTT) Overseas Expansion Foundation' project.
The OTT Overseas Expansion Foundation project includes 'OTT International Exchange,' which widely promotes OTT and related companies overseas and attracts investment, and 'OTT Overseas Hub Linkage Support,' which provides market information and networking to support the initial overseas expansion of OTT companies.
The government will hold an 'OTT Specialized International Event' in October to raise awareness of domestic OTT platforms and content and increase export opportunities. The event will feature an 'International OTT Awards Ceremony' (tentative name), as well as investment briefings and technology conferences.
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A local hub will also be established to help domestic OTT platforms settle in overseas markets initially. Based on the results of a corporate demand survey next month, one overseas hub will be selected. A dedicated coordinator will be stationed at the hub center to build a database (DB) of local OTT industry-related telecom companies, platforms, and production companies, and provide consulting using local experts.
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