"Creating the Second 'Ojingeo Game' Catalyst" Government Expands OTT Specialized Support

191 Billion Won Allocated for Content Production Support This Year

[Asia Economy Reporter Cha Min-young] The government is expanding support for online video service (OTT) specialization and new technology convergence content with the goal of creating a second 'Ojingeo Game' (Squid Game).

The Ministry of Science and ICT announced the 2022 production support project on the 18th to strengthen the competitiveness of the domestic broadcasting and media content industry. The total project scale for this year was set at 19.1 billion KRW.

In the OTT specialization sector, restrictions on content types, which were previously limited to 'short-form' content, will be removed to guarantee autonomy. Support will be provided step-by-step from discovering production company proposals to content production. To allow excellent content to receive concentrated support, the maximum support per work has been increased to 500 million KRW, more than three times the previous 150 million KRW, and the total support scale has also been increased by 1 billion KRW to 6.1 billion KRW.

The full-cycle support system for documentary planning, investment attraction, production, and distribution will also be strengthened. This is due to increased difficulties caused by reduced documentary funding and deepening polarization. The maximum support per work will be expanded fourfold from the previous 10 million KRW to 40 million KRW. Distribution-linked production support will also be newly established to assist distribution.

In the new technology convergence support sector, support for content utilizing new technologies such as artificial intelligence (AI) and virtual reality (VR) will be expanded more than fourfold from the previous 400 million KRW to 1.8 billion KRW. For large-scale global projects, the maximum support per work will be up to 1 billion KRW.

Oh Yong-su, Director of Broadcasting Promotion Policy, stated, "The success of new Hallyu content like Ojingeo Game was not achieved overnight but is the result of long-term efforts by the domestic media and content industry." He added, "The government plans to continue support so that new Hallyu can persist in the next-generation digital media market led by D (Data), N (5G Network), and A (Artificial Intelligence)." This project is intended to serve as a catalyst for creating another excellent case.

Meanwhile, the project briefing session will be held on the 24th of this month via YouTube and KakaoTV. Applications can be submitted through the e-Naradoom system from the 18th of this month until 2 p.m. on the 25th of next month.