Deputy Minister Gi Jae Visits CJ ENM Studio to Promote "Korean Version of Disney"...

Bang Gi-seon, the 1st Vice Minister of the Ministry of Economy and Finance, stated on the 28th, "To enhance the competitiveness of K-content, we will explore and implement various policy measures to promote a virtuous cycle of investment and coexistence throughout the content industry ecosystem, including production and distribution."

The Ministry of Economy and Finance announced this as Vice Minister Bang visited the CJ ENM Studio Center in Paju, Gyeonggi Province, and held a meeting with industry representatives. This on-site visit was arranged to seek policy measures to foster K-content, which is gaining global attention, as a new growth and export engine.

Vice Minister Bang toured key facilities such as the Virtual Production Stage, the first (Micro LED) and largest (20m diameter) video content production facility in Korea, located at the CJ ENM Studio Center. He examined the future-oriented video content production environment, including virtual backgrounds for filming utilizing the latest technologies such as Extended Reality (XR) and Artificial Intelligence (AI).

At the meeting, Vice Minister Bang emphasized that content is the sector with the highest growth potential among our service industries. He also stated that the government is actively supporting the project of "nurturing Korea's Disney" as a major initiative under the 'New Growth 4.0 Strategy.' This year, the government is investing over 1.17 trillion won in the content industry and continuously expanding tax support, including adding OTT content to the tax credit targets for video production costs.

Participants in the meeting presented opinions on support measures for content IP development and acquisition, nurturing professional personnel such as new creators, expanding investment in the content sector, and revitalizing domestic OTT platforms. Vice Minister Bang plans to actively reflect the on-site difficulties and suggestions gathered during the meeting in future policies.

The event was attended by representatives and executives from major companies and institutions in the content industry, including CJ ENM, the Korea Broadcasting Video Producers Association, RaemongRaein, Film Monster, Watcha, and the Korea Creative Content Agency.