Broadcasting Commission Supports 1.7 Billion KRW for SME Broadcast Advertisement Production Costs

[Asia Economy Reporter Kim Heung-soon] The government will support advertising production costs of over 1.7 billion KRW for 70 small and medium-sized enterprises (SMEs) to promote their growth and revitalize the broadcast advertising market.

On the 20th, the Korea Communications Commission (KCC) announced the '2020 Innovative SME Broadcast Advertising Activation Support' project plan in collaboration with the Korea Broadcast Advertising Corporation, stating that this year they plan to support advertising production costs of 1.72 billion KRW for a total of 70 SMEs, including 36 television ads and 34 radio ads.

The Innovative SME Broadcast Advertising Activation Support project was launched by the KCC in 2015 to assist SMEs with excellent technological capabilities but facing difficulties due to low recognition and lack of marketing skills by supporting their broadcast advertising production costs.

The support targets include venture companies, Inno-Biz (technology innovation type), Main-Biz (management innovation type), Green-Biz (excellent green management), green-certified SMEs, global intellectual property (IP) star companies, intellectual property management certified companies, social enterprises, preliminary social enterprises, and brain capacity excellence specialized companies. Selected applicants after screening can receive up to 45 million KRW for TV ads, covering up to 50% of production costs, and up to 3 million KRW for radio ads, covering up to 70% of production costs.

Additionally, the KCC plans to invest a total of 35 million KRW in advertising education and one-stop consulting to systematically support SMEs in producing broadcast advertisements. Innovative SMEs can also receive up to a 70% discount on broadcast advertising transmission fees from terrestrial broadcasters and comprehensive programming channels, separate from the production cost support.

Innovative SMEs wishing to apply for broadcast advertising production cost support can do so by February 7th through the dedicated SME support website of the Korea Broadcast Advertising Corporation. Attending the pre-briefing session held during the application period provides information on basic broadcast advertising procedures, average processing times, costs, and precautions when submitting applications.