Ministry of Culture and Content Promotion Agency Hold Event to Share CES Issues and Insights

Exploring Convergence Strategies Between AI and the Content Industry
Hwang Sumin, Director at The Next Lab, Explains Value Creation Strategies
"In the Era of AI Democratization... Providing Differentiated Customer Experiences"

The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency held the 'CES 2024 Business Review & Insights' on the 18th at COEX in Seoul to secure a leading position in the global market for K-content and cultural technology. They shared issues and insights covered at CES 2024, the world's largest global technology exhibition. The event explored convergence strategies between artificial intelligence (AI) and the content industry and promoted collaboration opportunities among companies.

In the first session, key topics of this year such as AI, metaverse, streaming platforms, mobility, and copyright were discussed in relation to content intersections. Hwang Soo-min, Director of The Next Lab, predicted changes in the content industry triggered by the emergence of generative AI and explained value creation strategies for domestic content companies to capture the global market. Director Hwang emphasized, "In the 'AI democratization era' where everyone utilizes AI, businesses that provide differentiated customer experiences reflecting their identity and philosophy are essential," adding, "It is time to seek collaboration opportunities across various industries."

The second session focused on sharing achievements centered on CES 2024 Innovation Award-winning companies and booth participants. Nineteen companies including Digisonic, Clickt, FXGear, Designoble, Adoba, Bolt Micro, Creative Mind, Omotion, DRM Inside, Action Power, Plumd, SoulX, Nemos Lab, Real Design Tech, Ant Reality, Indie Jay, For By Four, Kangsters, and Rebuilder AI pointed out the directions K-content should take.

The third session introduced support strategies and projects that the Korea Creative Content Agency will promote this year to maximize overseas expansion achievements of K-content and cultural technology. A networking session was also provided to communicate with twenty-one investment firms active in AI, virtual reality, blockchain, and metaverse sectors.

The Korea Creative Content Agency is implementing various support projects to expand the global advancement of K-content and maximize the outcomes of cultural technology research and development (R&D) tasks. This year, the number of overseas bases will increase from fifteen to twenty-five, generating global results through support for overseas marketing activities, network building, and local infrastructure operation. A new initiative, 'K-Culture Global Startup Fostering R&D,' will nurture future unicorns in the cultural content field. The target is small and medium enterprises under seven years old that have received or are seeking private investments of 300 million KRW or more. Five projects within a support scale of up to 1 billion KRW will be presented, supporting technology verification, technology advancement, and global commercialization.

The Korea Creative Content Agency, in connection with the Korea Copyright Commission's work, will also encourage overseas intellectual property registration and applications for companies preparing for global expansion. This support was prepared after reviewing on-site feedback from the CES Innovation Award-winning companies' meeting last month, which indicated that overseas patent costs were burdensome. The plan is to support up to 10 million KRW per company. Cho Hyun-rae, President of the Korea Creative Content Agency, stated, "We will continue to explore various support measures to maximize the achievements of innovative technology development and content company cultivation."

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