Fading 'K'... Increasing International Collaboration [2024 Content③]

Content Industry with More Companies Improving Structure
Secrets: International Co-productions, Collaboration, and Utilizing Local Systems
Webtoons and Web Novels Animated in the US, Japan, and More
Ros?'s 'APT.' Mega Hit Featuring Bruno Mars

The cultural content industry has established itself as a key industry this year. It received a score of 103 in the 'Q3 Export Performance Evaluation and Q4 Outlook' released by the Export-Import Bank of Korea in November. It surpassed electronics (92 points), machinery (88 points), petrochemicals (83 points), automobiles (88 points), textiles (89 points), renewable energy (97 points), and shipbuilding (98 points), and was the only industry to exceed 100 points across all sectors. It was evaluated that more companies improved their structure than those that deteriorated.

Yonhap News

This is the result of diversifying exports through expanding global bases while implementing localization strategies. Two attempts were particularly effective: international co-production and collaboration, and utilization of local systems.

International co-production and collaboration were made possible by cultural cooperation between countries, collaboration of personnel and systems, and understanding of local laws and policies. The most active field has been video content. Recently, Kakao Entertainment decided to produce the webtoon 'Namjang Biseo' (Cross-dressing Secretary) as a short-form drama together with Japan's Fuji TV and Playlist. Hwang Jaeheon, Chief Manager of the Intellectual Property (IP) Business Team at Kakao Entertainment, said, "With our vast IP resources, we will expand into many countries and develop diverse forms of business."

The drama 'Nevertheress,' which is broadcast on Netflix, is also a joint work between Korean and Japanese companies. Studio N, a video subsidiary of Naver Webtoon, remade 'Algot Itjiman' (Nevertheless), which aired on JTBC in 2021, together with Japan's Studio Babel Label. The original work is a webtoon of the same name serialized on Naver Webtoon. It has a global cumulative view count of 175 million. Kwon Mikyung, CEO of Studio N, said, "It is meaningful to present a webtoon that resonated with the 20s and 30s generation as a drama reflecting Japanese sensibilities and culture," adding, "We will strengthen global content production capabilities through cooperation with domestic and international production companies and expand the base of webtoon IP."

Overseas co-productions also frequently occur in animation. Studio N is producing series based on Naver Web Novel 'Omniscient Reader's Viewpoint' with Sony Group affiliate Aniplex, and Naver Webtoon 'Gosu' with Japan's Toei. Kakao Entertainment is presenting the webtoon 'The Beginning After the End,' discovered in North America, as an animation through the local platform Crunchyroll. Japanese companies Slow Curve and Studio A-Cat are participating in the production.

The utilization of local systems is most active in music. A notable success case is Ros?'s 'APT.' It reached 8th place on the Billboard singles chart, the highest ever for a Korean female artist. The music video has surpassed 640 million views on YouTube.

This was the result of meticulous planning through North American record producers and distributors in advance. The popular 1981 song 'Hey Mickey' was recently restructured with a pop-style melody, and an addictive chorus inspired by a Korean drinking game was added, capturing both familiarity and freshness. It even attracted global pop star Bruno Mars, setting it on the path to mega-hit status.

Song Jin, Director of the Content Industry Policy Research Center at the Korea Creative Content Agency, evaluated it as "well-made pop that transcends the regionality of K-pop." He added, "The increase in overseas artists using K-pop, such as Coldplay collaborating with BTS, could lead to a departure from subculture."