Enhancing K-OTT Global Competitiveness... Utilizing 1 Trillion Won Fund for Production and Technology Investment

Ministry of Science and ICT Announces 3 Major Strategies to Strengthen K-OTT
Investing in Content Production and Companies through JaFund
Advancing Technology with AI... Training 11,000 Personnel

The government announced a strategy to strengthen the global competitiveness of domestic online video services (OTT). Utilizing a strategic fund targeting a scale of 1 trillion won, it plans to establish sub-funds for content and technology enhancement. It will also promote the advancement of content production processes through artificial intelligence (AI) and the training of 11,000 technical personnel by 2027.

Source=Ministry of Science and ICT

On the 19th, the Ministry of Science and ICT held a policy meeting with the domestic OTT industry at Nurikum Square and announced the 'Three Major Strategies to Strengthen the Global Competitiveness of the K-OTT Industry' (hereinafter referred to as the OTT Strategy). The Ministry explained that this strategy was established to overcome the crisis in the domestic industry and to build a sustainable content investment ecosystem.

Establishing a Technology Investment Fund to Foster Global Platforms

The government's first strategy is to build a system to foster global platforms. Utilizing the 'K-Content Media Strategic Fund,' which aims for a scale of 1 trillion won by 2028, sub-funds will be created to invest in content production and technology for domestic OTT and FAST companies.

It will diversify overseas expansion models by discovering joint investment models for 'K-Branded Content' linked planning products. Additionally, to strengthen cooperation with overseas OTTs and telecommunications companies, diplomatic cooperation such as digital ministerial meetings and support for business matching and consulting will be provided using six overseas ICT hubs.

Global expansion of Korean FAST is also targeted. Utilizing 600 million Samsung and LG smart TVs worldwide, support for AI dubbing specialized localization considering overseas user viewing characteristics will be strengthened. To secure competitiveness unique to Korean channels, support will be provided for the production of 'K-FAST Original Content,' as well as operation of shopping services linked to content. The government plans to strengthen channel marketing by establishing the 'Global K-FAST Alliance,' which offers incentives such as preferential government support.

Enhancing Efficiency in the Content Industry with AI... Supporting Short-Form Production

AI will be used to advance all stages of the value chain in the broadcasting and OTT industries. To reduce content production time and costs, 3 million hours of accumulated broadcast footage over 70 years will be constructed as AI-utilized data and applied to content production through AI automatic video generation and demonstration.

AI technology will be applied throughout the entire production industry cycle, and collaboration between broadcasters and ICT companies will expand support for video production incorporating AI and digital technologies such as visual effects (VFX), digital humans, and automatic editing. The introduction of OTT-specialized services such as short-form content production based on AI production and conversion technology, customized highlight videos, and interactive content will also be strengthened.

Source=Ministry of Science and ICT

Training 11,000 Digital Media Technology Personnel... Enhancing Capabilities

To strengthen future industrial capabilities, 11,000 digital media technology personnel will be trained by 2027. Customized educational programs will be operated targeting current workers for skill enhancement, as well as media specialized high schools, university students, and youth. Support will also be provided for public-private cooperative corporate internships for practical talent development and technical mentoring activities utilizing retired broadcasting experts' expertise.

Mid- to long-term and large-scale core research and development will be promoted for the AI transformation of the media industry. Support will be provided for the development of technologies related to ultra-large AI production and application, ultra-realistic immersive media, and user data interaction, and participation of demand companies such as OTTs and broadcasters in research and development will be expanded. Research will support the development of AI technology that allows corrections without reshooting and technology that can automatically detect and track illegal content distribution sites.

Ryu Jae-myung, Director of the Network Policy Office at the Ministry of Science and ICT, said, "It is an urgent time to nurture indigenous platforms targeting the global market and improve the industrial structure through AI and digitalization," adding, "We hope the OTT strategy will become a momentum for global expansion."

Meanwhile, the meeting was attended by representatives from TVING, Wavve, Coupang Play, executives from Watcha, heads of FAST business units from Samsung Electronics, LG Electronics, CJ ENM, New ID, and the CEO of AI media company Pixelscope.