Government Expands Support for OTT Content Scale

Maintaining Overseas Expansion Opportunities by Soliciting Project Proposals

The government is focusing on strengthening the competitiveness of online video service (OTT) content. It is soliciting related project proposals and expanding the scale of production support. It also maintains avenues for overseas expansion.

According to the Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency on the 13th, the support projects are broadly divided into three categories. The first is the 'OTT-linked Broadcasting Video Content Project Proposals' which were solicited until May. Recently, 150 proposals were received, and ten supported works were selected. These include dramas such as 'Manhwa Jeonjaeng' and 'No Way Out', and entertainment and documentary programs like 'Lifeline' and 'Wang Game'. A representative from the Korea Creative Content Agency stated, "Each project receives 25 million won in support, and through the broadcasting content planning and development intellectual property (IP) distribution consultation meeting, connections with domestic and international OTT companies are being pursued." Last year, 161 investment consultations were conducted at the distribution consultation meeting.

The second is 'OTT Specialized Content Production Support'. The project scale was increased from 10.1 billion won last year to 11.6 billion won. The Korea Creative Content Agency has already selected fourteen supported works. They provide 1.44 billion won for four long-form dramas, 720 million won for five medium and short-form dramas, 500 million won for three long-form non-drama works, and 250 million won for two medium and short-form non-drama works. A representative from the agency said, "These are scheduled to be broadcast within the year through domestic OTT platforms such as TVING, Wavve, Watcha, KT Season, and Coupang Play."

The third is support for overseas expansion. They assist with re-production such as subtitles and translations for twenty-eight pieces of content including 'Sulkkun Doshi Yeoja-deul' and 'Dwaeji-ui Wang'. They also plan to activate overseas distribution by securing promotional spaces in major overseas markets. In March, at Hong Kong FILMART, twenty-seven companies signed contracts worth approximately 5 million USD (63 deals). In May, thirteen formats were extensively promoted at the LA Screening. A representative from the Korea Creative Content Agency said, "We plan to support Korean content distribution at events such as MIPCOM in France in October, Tokyo Film Market in Japan in November, and the Asia TV Forum & Market (ATF) in Singapore in December."