[Asia Economy Reporter Koo Chae-eun] The Korea Communications Commission has selected a total of 70 innovative small and medium-sized enterprises (SMEs) for support in revitalizing broadcast advertising this year. Among them, 36 companies, including Foodnamu Co., Ltd. and Dasan G&G Co., Ltd., were selected for TV advertising support. For radio advertising support, 34 companies, including Cocodor Co., Ltd. and Roiche Co., Ltd., were selected.
Selected companies will receive support of up to 45 million KRW within 50% of the production cost for TV advertisements, and up to 3 million KRW within 70% of the production cost for radio advertisements. The total budget for broadcast advertising production support this year is 1.72 billion KRW. Advertising experts will also provide consulting services to the selected companies, advising on the entire process of planning, producing, and executing broadcast advertisements. Additionally, innovative SMEs selected for broadcast advertising production support will receive up to a 70% discount on broadcast advertising transmission fees after a separate review.
The Innovative SME Broadcast Advertising Revitalization Support Project has been conducted by the Korea Communications Commission since 2015 to assist SMEs with excellent technological capabilities that find it difficult to access broadcast advertising due to cost burdens. Companies such as Curly Co., Ltd., Millie’s Library Co., Ltd., and Hogangnono Co., Ltd. have received production cost support through this project, laying the foundation for growth. SMEs supported in 2019 also showed a 20.9% increase in sales compared to the previous year and an increase of 697 employees.
A KCC official stated, "We plan to actively support SMEs, which are the foundation of national competitiveness, so that they can grow by utilizing broadcast advertising."
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