Gyeonggi-do Supports Outstanding K-Content SMEs... Support Agreement with 5 Companies Including CJ

Gyeonggi Province Governor Kim Dong-yeon is taking a commemorative photo with representatives of participating companies after signing the 'K-Content Intellectual Property (IP) Convergence Production Support' business agreement on the 31st.

Gyeonggi Province is teaming up with major content companies and small and medium-sized content producers to discover and nurture competitive 'K-content.'

On the 31st, Gyeonggi Province announced that it signed an agreement with five intellectual property (IP) holding companies?Kakao Entertainment, SM Entertainment, Nexon, Smilegate, and CJ ENM?at the Gyeonggi Content Korea Lab located on the 7th floor of the Gyeonggi Creative Economy Innovation Center in Pangyo, Seongnam, as part of the 'K-Content Intellectual Property (IP) Convergence Production Support' project.

Under this agreement, participating companies will provide small and medium-sized producers with ▲webtoon and web novel IP (Kakao Entertainment) ▲artist IP (SM Entertainment) ▲game IP (Nexon and Smilegate) ▲animation and entertainment IP (CJ ENM). They will also participate in project discovery, selection, and evaluation, and support education, consulting, and mentoring to produce excellent content.

Gyeonggi Province is responsible for policy formulation and budget support for the 'K-Content Intellectual Property (IP) Convergence Production Support.'

The K-Content Intellectual Property (IP) Convergence Production Support project has a production support fund of 2.4 billion KRW. It is divided into two parts: the 'Excellent Content Intellectual Property (IP) Utilization' section, which carries out tasks using popular IPs from well-known domestic IP holding companies partnered with Gyeonggi Province, and the 'Content IP Expansion' section, where participating companies freely select desired IPs to create genres. The project will proceed with around 12 projects.

Furthermore, Gyeonggi Province, together with Goyang City, expects that once the 'IP Convergence Content Cluster,' promoted as a public project by the Ministry of Culture, Sports and Tourism, is completed in 2026, it will uniquely establish a nationwide ecosystem for discovering, distributing, commercializing, experiencing, and consuming excellent content intellectual property.

Kim Dong-yeon, Governor of Gyeonggi Province, said, "I have often heard about issues such as the theft of intellectual property from small and venture companies, so I have always paid close attention to countermeasures. Today, however, I am very pleased that IP holding companies are sharing and collaborating to support each other." He added, "I hope you make good use of intellectual property and succeed. Also, I hope that at an appropriate time and in an appropriate way, you will give back to others or our society as much as you have received."

Meanwhile, after the signing ceremony, about ten executives and employees from the contracted companies and content producers selected as support companies for this project gathered to communicate with small and medium-sized content producers in the province.

During the communication, local content producers praised the policy as a good one that fosters a virtuous cycle by having large companies share intellectual property and small and medium producers utilize it well to create new convergence content and develop growth models. They requested Gyeonggi Province to continue leading efforts to discover more opportunities.

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