Will Content Startup Investment Support Be Tailored Specifically?
Ministry of Culture and Korea Creative Content Agency 4th Content Export Strategy Meeting
Discussion on Support Measures for K-Content Startups and Financial Investment
The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency held the 4th Content Export Strategy Meeting on the 4th to discuss support measures for K-content startups and financial investment. They laid the groundwork for discovering well-structured support policies by incorporating opinions from industry stakeholders such as FNS Holdings, Musicow, Kona Venture Partners, Korea Investment Partners, and Kingsley Ventures.
According to the 2021 Content Industry Survey, more than 76% of workers in the K-content industry are from the MZ generation aged 39 or younger. The Ministry of Culture, Sports and Tourism believes that their imagination and creativity must lead to bold challenges for the continuous creation and commercialization of attractive content. This year, they will support the operation of accelerating (startup nurturing) programs for content startups and participation in overseas markets. A K-content fund worth 400 billion KRW has also been established.
Industry insiders unanimously agreed that investment support should be tailored. A representative example mentioned was the creation of venture funds specialized for content companies aiming to enter overseas markets and marketing-related funds. There was also an opinion that opportunities should be provided to showcase K-content to global venture capitalists and that related exchanges and networks should be strengthened.
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There was also a request to provide local market information and new industry-related legal information when content startups enter overseas markets, including China. A Ministry of Culture, Sports and Tourism official responded, "We will seek ways to effectively expand overseas entry and opportunities for domestic and international investment attraction."
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