K-Content and Related Industries Gain Momentum in Entering the Australian Market

Establishment of Business Center in Sydney
"Tailored Support for Small and Medium Content Companies"

The expansion of K-content and related industries into Oceania is gaining momentum. A business center has been established in Sydney, Australia.

The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency held an opening ceremony in Sydney on the 21st. In his congratulatory speech, Cho Hyun-rae, president of the Korea Creative Content Agency, stated, "Australia is a global content powerhouse, showing great interest in K-content and increasing cases of collaboration." He added, "We hope that content industry exchanges and cooperation between the two countries will become more active centered around the business center."

Australia, along with New Zealand, leads the South Pacific economy. The content market size reached $41.912 billion last year, the largest in the Southeast Asia and Pacific region. It has shown rapid growth with an average annual growth rate of 3.7% over the past five years.

Sydney, the central city, is the area with the highest Korean population in Australia. Government and public institutions such as the Consulate General, Korean Cultural Center, Korea Trade-Investment Promotion Agency (KOTRA), and Korea Tourism Organization are also concentrated there, providing ample support for the advancement of K-content and related industries.

The Korea Creative Content Agency plans to establish an organic inter-ministerial and public-private cooperation system and leverage the popularity of K-content to promote the export expansion of domestic consumer goods. In August, it will sign a business agreement with the World-OKTA (World Federation of Overseas Korean Traders Associations) to promote industrial information exchange and utilization, as well as discover projects to revitalize K-content.

Jeon Young-hwan, head of the Australia Business Center, said, "We aim to expand the entry of K-content into the Oceania market and activate cultural content exchanges between Korea and Australia, while serving as a foothold for content export and exchange." He added, "We plan to provide integrated customized support such as consulting, counseling, business matching, and marketing for domestic small and medium content companies wishing to enter the Oceania market."

The Korea Creative Content Agency will also establish business centers in ten other locations including Singapore, India, and Spain within this year. By 2027, it plans to build and operate fifty centers.