Kibo Leads the Promotion of Cultural Content Industry in Busan Region

Busan International Film Festival · Business Agreement with Busan Film Commission

On the 2nd, Jang Young-su, Head of the Busan Regional Headquarters of Kibo (left), Kang Seung-ah, Deputy Executive Chairperson of the Busan International Film Festival (center), and Kim In-su, Operating Chairperson of the Busan Film Commission, are taking a commemorative photo after the signing ceremony.

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Jung Yoon-mo, hereinafter referred to as Kibo) announced on the 2nd that it signed a business agreement for "leaping forward as a city centered on the film, video, and cultural content industry" with the Busan International Film Festival (Executive Chairman Heo Mun-young) and the Busan Film Commission (Operating Chairman Kim In-su) at the Busan Film Commission located in Haeundae-gu, Busan.

Following last year's business agreement with the Busan Cinema Center to foster the film industry in the Busan area, Kibo prepared this agreement to contribute to the development of the film, video, and other cultural content industries in Busan, which have been stagnated due to COVID-19. According to the agreement, each organization will cooperate and support each other to help Busan leap forward as a city centered on the cultural content industry through mutual recommendations, financial support, and discovering and nurturing excellent content companies operating in the film, video, and cultural content industries in the Busan area.

To foster the cultural content industry, Kibo established the Cultural Content Finance Center, the first dedicated branch in Korea, in 2016. In January of this year, it additionally established the Daejeon Cultural Content Finance Center, building a total of four dedicated cultural content branches nationwide, leading support for the cultural content industry. Jang Young-su, head of Kibo's Busan Regional Headquarters, said, "Kibo has been discovering and nurturing companies operating in the film, video, and cultural content industries in Busan by establishing the Busan Cultural Content Finance Center in 2018, and through this agreement, we will actively strive for the development of the K-content industry."