Domestic OTT Leaders Meet with Broadcasting Commission Chair... "Minimal Regulation and Support for Overseas Expansion"

TVING, Wavve, Coupang Play, Watcha
Meeting with Chairman Kim Hong-il on the 28th
"Media Integration Act, Listening to Industry Opinions"

Kim Hong-il, Chairman of the Korea Communications Commission, discussed measures to revitalize the OTT industry with representatives of four domestic online video service (OTT) companies on the 28th.

On the same day, Chairman Kim held a meeting with representatives of domestic OTTs such as TVING, Wavve, Coupang Play, and Watcha at the Government Complex Gwacheon.

He said, "The growth of domestic OTT services has greatly contributed to strengthening the competitiveness of Korean content," and added, "I express my gratitude for the fact that domestic operators, despite their smaller scale compared to global companies and difficult management conditions, have continuously invested in producing high-quality content."

The participating operators stated, "Although the market environment is challenging, we intend to strengthen our investments," and requested, "We ask the Korea Communications Commission to actively promote policies to protect and support the domestic industry so that the domestic OTT sector can overcome financial difficulties and respond to the offensive of global OTTs."

Additionally, the operators suggested, "When the Korea Communications Commission undertakes regulatory system reforms across the media sector, it is necessary to apply the principle of 'minimum regulation and maximum promotion' to OTTs, and more active support is needed for the overseas expansion of domestic OTT operators."

In response, Chairman Kim said, "To leap forward as a global media powerhouse in the digital era, we will actively strive to revitalize the OTT industry through policy support for securing global networks and overseas expansion of domestic OTTs," and added, "The integrated media legislation will be reasonably prepared by fully reflecting operators' opinions under the principle of minimum regulation."

He also urged, "We hope that operators will make efforts to ensure that the public does not experience inconvenience in matters such as tariff plan revisions."

The Korea Communications Commission plans to continuously gather industry opinions and reflect them in policies to promote the development of the domestic OTT industry.