Culture Ministry to Join Forces with Tourism and Content Industries for 'Second Middle East Boom'

Meeting with Tourism and Content Industry on Middle East Expansion
Discussion on Customized On-site Support Measures

The Ministry of Culture, Sports and Tourism announced on the 6th that it discussed a one-team support plan centered on the '2nd Middle East Boom TF' to help Korean companies enter the Middle East market.

The Ministry of Culture, Sports and Tourism announced on the 6th that it discussed one-team support measures centered on the '2nd Middle East Boom TF'.
[Photo by Ministry of Culture, Sports and Tourism]

Launched in January this year, the '2nd Middle East Boom TF' is communicating with government officials from Middle Eastern countries such as Saudi Arabia, the United Arab Emirates, Qatar, and Kuwait to explore ways to develop the Middle East market and increase exports.

On the morning of the 5th, the 2nd Middle East Boom TF, led by Team Leader Jeong Hyang-mi, Director of Cultural Policy, held a meeting at the National Museum of Modern and Contemporary Art Seoul to hear on-site opinions from stakeholders in the tourism and content industries conducting business in the Middle East region and discussed a 'one-team' support plan for Korean companies' entry into the Middle East market.

The Ministry explained that with the end of Ramadan (March 23 to April 21), the Islamic holy month of fasting, full-scale exchanges and cooperation are expected to begin, so the meeting was arranged to review the achievements of Korean companies so far and to seek ways to resolve difficulties experienced on the ground.

Businesspeople agreed that since Middle Eastern countries are implementing government-led industrial diversification and digital transformation policies, it is necessary for Korea to form a one team of public and private sectors to respond effectively.

They especially emphasized the need to alleviate the economic burden for startups lacking initial human and material capital to settle in the market, as well as the necessity for local legal, cultural, and market information.

The importance of networks during business processes such as establishing local corporations and signing contracts was also raised. There was also a call to strategically utilize the high interest of Middle Eastern consumers in Hallyu (Korean Wave).

The Ministry stated, "Based on local support organizations such as the Korea Creative Content Agency UAE Business Center and the Korea Tourism Organization Dubai Office, we are implementing field-centered support policies for companies," and added, "We plan to continuously improve these policies by reflecting the voices of companies."

Currently operating 10 business centers and 2 overseas tourism company support centers, the Ministry plans to expand these to 50 and 10 centers respectively by 2027, significantly strengthening the overseas expansion support system and field-oriented support policies.

In terms of costs, support for attracting investment from Middle Eastern sovereign wealth funds such as Mubadala is being promoted, and in terms of information, the establishment of a 'Hallyu Data Center' within the content export platform 'Welcon' is underway.

Regarding networks, plans were announced to attract overseas buyers and investors within 'Welcon.' Additionally, sufficient networking opportunities will be secured before and after business matching to support the actual execution of contracts.

Jeong Hyang-mi, Team Leader of the 2nd Middle East Boom TF, said, "The interest of Middle Eastern governments in K-content and tourism should not only lead to local job creation but also translate into actual profits for our companies and further connect to an increase in Middle Eastern tourists visiting Korea. We will explore various measures to achieve this," adding, "We will continue to listen to the suggestions of businesspeople in the spirit of 'one team' and devise more well-structured support policies based on them."

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