콘진원, Establishing a Foothold to Expand K-Content Entry into the Middle East

Dubai-bound Sajinheungcheong, Index Holdings, and others sign MOU

The Korea Creative Content Agency (KOCCA) has laid the groundwork for expanding the content industry cooperation system with the United Arab Emirates (UAE). On the 16th and 17th of last month, KOCCA signed memorandums of understanding with two local related promotion agencies in Dubai. These are the Dubai Festivals and Retail Establishment under the Dubai Department of Economy and Tourism, and Index Holding. The former is an organization that supports distribution, festivals, and more to help Dubai function as a world-class tourist destination. The latter is the organizer of the Dubai International Content Market, the largest content market in the Middle East. It operates various subsidiaries in exhibition conventions, trade and investment, media, and other fields, leading the local content industry.

KOCCA will establish cooperative relationships for the development of the content industry and carry out joint projects. Additionally, they will exchange diverse information and closely collaborate on content events such as the 'K-Pop in the Emirates' concert and the K-Content Expo. Jo Hyun-rae, the president of KOCCA, stated, "Through multifaceted cooperation and exchange, we will work to broaden the base of K-content and help the content industry grow further." Recently, the Middle Eastern content market has shown explosive growth based on a high proportion of young population and strong purchasing power. In the UAE, which serves as a central hub, K-content is highly popular in various fields such as dramas, music, and beauty. It is expected to serve as a key base for the spread of Hallyu in the Arab Middle East region and as a new foothold for emerging connections.

KOCCA has been making efforts to expand the entry of K-content into the Middle East region. In October last year, it opened an overseas business center in the UAE and established Hallyu new technology convergence content exhibition halls in Dubai and Abu Dhabi, attracting 10,000 visitors. They also organized 'KCON 2022 Saudi Arabia with Coca,' gathering over 20,000 Hallyu fans and supporting K-content export consultations.