Public-Private Joint Investment to Establish a 200 Billion Won Master Fund
Korea Growth Investment Corporation has been selected as the master fund manager for the ‘K-Content & Media Strategic Fund.’ On the 25th, the Ministry of Culture, Sports and Tourism and the Ministry of Science and ICT announced that during a month-long evaluation, they confirmed Korea Growth Investment Corporation's extensive experience in managing various policy funds and its high level of understanding of strategic funds and the content & media industry. They plan to jointly establish detailed operational plans for the strategic fund and sign the master fund formation agreement in June.
On the 31st, citizens are touring booths at the international broadcasting video market 'BCWW (BroadCast WorldWide) 2022' held at Dongdaemun Design Plaza in Seoul. Photo by Moon Honam munonam@
The K-Content & Media Strategic Fund is one of the promotion strategies under the ‘Media & Content Industry Convergence Development Plan’ announced last month. It is being established to revive the domestic content & media industry, which is facing a crisis due to soaring production costs and intensified competition for securing intellectual property (IP). A master fund worth 200 billion KRW will be created through public-private joint investment, which will serve as the basis for building sub-funds totaling 600 billion KRW. The Ministry of Culture, Sports and Tourism will invest 45 billion KRW, the Ministry of Science and ICT will invest 35 billion KRW, and the private sector will contribute 120 billion KRW to the master fund formation.
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