Announcement of Selection for K-Content Jafund Management Company... 400 Billion KRW to Be Raised This Year

Creation of IP Acquisition and Technology Deepening Funds
Three IPTV Providers to Launch Separate Strategic Fund

The Ministry of Culture, Sports and Tourism and the Ministry of Science and ICT announced on the 12th that they will select sub-fund managers for the 'K-Content & Media Strategic Fund,' which focuses on investing heavily in large-scale content.

Minister Yoo Sang-im of the Ministry of Science and ICT and Minister Yoo In-chon of the Ministry of Culture, Sports and Tourism are taking a commemorative photo with officials at the "K-Content Media Strategic Fund Establishment and Cooperation Project Agreement Ceremony" held on October 2 last year at the Korea Tourism Organization Seoul Center in Jung-gu, Seoul. Photo by Yonhap News

The 'K-Content & Media Strategic Fund' is a fund that supports related industries such as financing domestic content producers and securing intellectual property rights (IP). Last October, the government signed investment agreements with Korea Development Bank, Industrial Bank of Korea, Korean Broadcasting System (KBS), SLL, CJ ENM, KT, SK Broadband, LG U+, and others, confirming an investment of 190 billion KRW. Based on this, a sub-fund worth 400 billion KRW will be established this year.

The selected managers through the announcement will create an 'IP Acquisition Fund,' a 'Technology Deepening Fund,' and a 'Project Fund.' The IP Acquisition Fund, which invests in companies and projects requiring IP acquisition, will be established with at least 226 billion KRW. The Technology Deepening Fund, which invests in broadcasting and video technology companies, will be established with at least 100 billion KRW, and the Project Fund for IP acquisition and large-scale content production will be established with at least 74 billion KRW.

The two ministries will accept proposals until May 5 and will finalize the selection of entrusted managers in early April. Detailed information can be found on the websites of Korea Growth Investment Corporation and Korea Development Bank.

Meanwhile, the three IPTV providers (KT, SK Broadband, LG U+) will separately establish an 'IPTV Strategic Fund.' This fund invests in broadcasting and video content for IPTV services, and will independently select managers this month. They plan to invest 30 billion KRW to raise at least 40 billion KRW.