Government to Fully Launch 'K-Content and Media Strategy Fund'
Announcement of Plan to Select Mofund Outsourced Asset Management Company
The Ministry of Culture, Sports and Tourism and the Ministry of Science and ICT announced on the 14th the plan to select a master fund entrusted operator for the 'K-Content & Media Strategic Fund.'
Yoon In-chon, Minister of Culture, Sports and Tourism, is delivering opening remarks at the Regulatory Innovation Promotion Meeting for the Promotion of Free and Creative Culture, Sports, and Tourism Industries held on the 4th at the National Museum of Modern and Contemporary Art in Jongno-gu, Seoul. Photo by Jo Yong-jun jun21@
View original imageThe K-Content & Media Strategic Fund is a key task of the 'Media and Content Industry Convergence Development Plan' announced by the government on the 13th. Unlike the existing mother funds limited to investment in small and venture companies, the private sector can invest without operational restrictions in large-scale content based on intellectual property (IP). It is expected to provide significant support to domestic content producers by assisting not only in fundraising but also in securing IP.
The target size of the master fund is 200 billion KRW. The Ministry of Culture, Sports and Tourism (45 billion KRW), the Ministry of Science and ICT (35 billion KRW), and the private sector (120 billion KRW) will jointly invest. Based on this, a sub-fund worth 600 billion KRW is planned to be raised this year. A Ministry of Culture, Sports and Tourism official explained, "Starting this year, we plan to drastically expand K-content investment with the goal of raising 1.02 trillion KRW over five years until 2028."
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The Ministry of Culture, Sports and Tourism and the Ministry of Science and ICT will announce the plan to select the master fund entrusted operator for two weeks starting from the 14th. Proposals will be accepted until the 28th, and the final selection of the master fund entrusted operator will be made next month. For more details, please refer to the websites of the Ministry of Culture, Sports and Tourism or the Ministry of Science and ICT.
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