Minister Hwee Young Choi Discusses Cultural Industry Cooperation with Vietnamese Deputy Prime Minister

On August 11, Hwee Young Choi, Minister of Culture, Sports and Tourism, will meet with Vietnamese Deputy Prime Minister Bui Thanh Son and Nguyen Van Hung, Minister of Culture, Sports and Tourism of Vietnam, at Lotte Hotel Seoul to explore ways to cooperate for the sustainable growth of the cultural industries of Korea and Vietnam.

At the "Korea-Vietnam Cultural Industry Development Cooperation Roundtable," the two governments will review the current status of their policies supporting the cultural industries and discuss future cooperation plans. The roundtable will also address key issues and challenges faced by major cultural content companies in both countries, as well as support measures to address these challenges. Approximately 40 representatives from companies in the cultural industries of both countries, including the gaming and animation sectors, are expected to attend.

Hwee Young Choi, Minister of Culture, Sports and Tourism [Photo by Ministry of Culture, Sports and Tourism]

The Ministry of Culture, Sports and Tourism will present its main policy directions for realizing a vision of a 300 trillion won "K-Culture" market and 50 trillion won in cultural exports through a keynote speech by a director-general. These directions include the provision of 10 trillion won in policy financing for content, strengthening research and development (R&D) in cultural technology, and supporting the overseas expansion of "K-content" and related industries.

The Vietnamese Ministry of Culture, Sports and Tourism will introduce a variety of policy initiatives aimed at achieving a 7% contribution of the cultural industry to national GDP by 2030. The ministry will also propose directions for future cooperation between the two countries in the cultural industry sector.

Following this, experts from Korean and Vietnamese cultural content companies will present analyses of local cultural industry trends and strategies to expand their overseas presence. From Korea, Lee Jaesang, CEO of HYBE (entertainment sector), Lee Minho, Head of Krafton (gaming sector), and Park Changshin, CEO of Carriesoft (animation sector), will share successful cases of Korean cultural content entering domestic and international markets. Based on these presentations, participants will also offer opinions and propose cooperation measures to support the successful overseas expansion of Vietnam's cultural industry and to strengthen collaboration between companies from both countries.

Minister Hwee Young Choi emphasized that the relationship between the two countries is closer than ever and that now is the time to expand cultural cooperation. Minister Choi stated, "Since Korea and Vietnam established a comprehensive strategic partnership in 2023, the two countries have been engaging in close cooperation across various fields, including the economy and society. As both countries are focusing on the cultural industry as a key driver of future national economic growth, I hope this roundtable will serve as an opportunity for both sides to become strong partners in the cultural industry sector."

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