'Arts Council Supports Basic Art Creation Activities' Announces Crowdfunding Matching Project Competition

The Korea Arts Council announced on the 26th that it will promote the 'Crowdfunding Matching Support Project' to support the creative costs of artists working in the fields of performance, exhibition, and publishing. Photo by Korea Arts Council

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[Asia Economy Reporter Kim Heeyoon] The Korea Arts & Culture Education Service announced on the 26th that it will promote the 'Crowdfunding Matching Support Project' to support the creative costs of artists active in the fields of performance, exhibition, and publishing.

Since 2011, the Arts Council has been conducting a crowdfunding project to support one of the biggest barriers artists face?the cost issue?and to enable them to focus on their creative activities.

Through this project, the Arts Council has formed partnerships with crowdfunding platforms Tumblbug and Kakao Together Value to expand the funding market in the arts sector.

This year, the project will be open for applications in two categories: 'Strengthening Creative Capacity' and 'Spreading Social Value.' Artists or organizations that have pursued funding of 3 million KRW or more on Tumblbug can apply for the Strengthening Creative Capacity category. For the Spreading Social Value category, arts organizations pursuing funding with a target amount of 3 million KRW on Kakao Together Value for public interest activities can apply.

In the Strengthening Creative Capacity category, a matching support of approximately 500,000 to 1,500,000 KRW, which is part of the funding goal, will be provided. In the Spreading Social Value category, seed money of 500,000 KRW will be provided, and 200 KRW will be calculated and supported for each comment, cheer, or SNS share activity by Kakao Together Value users.

This year's project has a total scale of 190 million KRW and will accept applications from artists in all fields, including literature, visual arts, and basic performing arts.

An official from the Arts Council said, "We hope for the active interest and participation of artists who wish to create stable conditions for creative work."

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