The Future of K-Content Lies in AI... Government Injects Additional 16.5 Billion Won

Additional Call for Applications for the "AI Content Production Support Project"

The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency announced on May 22 that they will invest 16.5 billion won, allocated through a supplementary budget, to nurture artificial intelligence (AI) content companies and creators. Until June 9, they are additionally recruiting companies, universities (industry-academic cooperation groups), and public institutions (museums and art galleries) to participate in the "AI Content Production Support Project." A total of 54 projects will be selected for support, including 18 "AI Video Production" projects and 36 "AI Content Proof-of-Concept Production" projects.

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The government has already carried out the "AI Content Production Support Project" with an initial budget of 8 billion won. Out of 315 submitted projects in fields such as video, webtoons, music, and games, 17 were selected. The project not only drove innovation in existing genres and expanded creative domains, but also confirmed new possibilities for K-content through areas such as virtual idols, de-aging (computer graphics technology that makes actors appear younger), and AI films.

From a global perspective, this is an investment for the future. According to global market research firm Market US, the generative AI market for content production was valued at 1.16 billion USD (approximately 1.6 trillion won) in 2023. The market is projected to reach 2 billion USD (about 2.8 trillion won) this year and 17.53 billion USD (about 24.4 trillion won) by 2033. The Ministry explained, "AI is being used in a variety of ways, from handling specific tasks such as video correction, webtoon background work, and translation, to being applied throughout the entire content production process, including planning, scriptwriting, voice, music, and video production."

In the newly established project, AI content proof-of-concept production supports the creation of new technology convergence content and the commercialization of platforms and services. Projects will be selected by type: "Leading" for those with global competitiveness, "Entry" for those in the early stages of production, and "Collaborative" for those fostered through cooperation among large, medium-sized, and small companies. Each project will receive between 200 million and 700 million won in support.

Separately, the AI video production project supports the creation of films, broadcasts, and animations using AI. Based on evaluations of project proposals, eight feature-length works (60 minutes or longer) and ten short works (within 20 minutes) will be selected, with support ranging from 20 million to 200 million won per project. The Ministry stated, "Participants can also benefit from AI technology education, legal consulting on copyright law, and comprehensive education and counseling throughout the production process." The Ministry added, "We will further support distribution, release, and promotion through AI film workshops and screenings of outstanding AI films, so that completed works can lead the global AI video industry."

Applications can be submitted via the Korea Creative Content Agency website until June 9. After document and presentation evaluations, projects will be selected by the end of June. However, for the collaborative type of AI content proof-of-concept production, demand from large companies will be identified, and a separate call for applications will be held in June.