Culture Ministry to Invest 3 Billion Won in SME Overseas Expansion...Choi Hwee-Young: "Pushing for K-Content Complex Space"

Up to 300 Million Won in Support for Three Years for 10 Selected Agencies
Policy Focused on Addressing Polarization in the Music Ecosystem

Minister of Culture, Sports and Tourism Hwee Young Choi is discussing the direction of popular music policy for 2027 with committee members at the 3rd meeting of the Popular Music Subcommittee of the Cultural and Arts Policy Advisory Committee held at a restaurant in Jung-gu, Seoul on the 23rd. Provided by the Ministry of Culture, Sports and Tourism

Minister of Culture, Sports and Tourism Hwee-Young Choi presided over the 3rd meeting of the Popular Music Subcommittee of the Cultural Arts Policy Advisory Committee at a restaurant in Jung-gu, Seoul, on the 23rd.

The meeting was held to share the progress on suggestions from the 1st and 2nd meetings and to discuss the direction of popular music policy to be reflected in the 2027 budget.

The meeting was attended by 10 field experts, including Ham Chunho, President of the Korea Musicians Association, Shin Daecheol, Chairman of the Barun Music Cooperative, and composer Yoon Ilsang, who expressed concerns about the decreasing diversity in the industry’s ecosystem.

Minister Choi identified resolving the polarization of the K-pop industry and enhancing the sustainability of the music ecosystem as top priorities for future policy.

Based on the committee members' suggestions to strengthen the foundation of the music ecosystem, Minister Choi presented specific action plans. The Ministry of Culture, Sports and Tourism plans to strengthen specialized programs at 17 music creation centers nationwide and will prioritize regional balance when supporting local performance events.

This year, the ministry will invest 3 billion won in the "Global Leap Support" program, selecting about 10 small and medium-sized agencies pursuing overseas expansion and providing up to 300 million won per year for up to three years. An additional 3 billion won has been allocated to establish an education system to train 120 professionals in popular music business operations.

The ministry will also newly launch the "K-Content Complex Cultural Space" project, investing 15.5 billion won to create a facility equipped with data collection, preservation, and exhibition functions. Committee members requested that this project be expedited, considering the aging of first-generation senior popular culture artists.

Minister Choi also explained the recent budget secured through the supplementary budget, including 2.4 billion won for the "Culture Day Youth Mic" support, 32.8 billion won for livelihood stabilization loans for artists, and 25 billion won for the youth content company fund.

Minister Choi stated, "For K-culture to truly flourish, its foundation must be strong," adding, "We will actively reflect the voices from the field in the 2027 policy and budget, and maintain open communication at all times."

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