[60th Anniversary of Korean Musicals③] Transitioning to an IP Industry... Nurturing Creative Talent Is Key

As Korean musicals approach their 60th anniversary next year, there is a growing consensus that securing intellectual property (IP) is essential for the next “new 60 years.” The need for IP acquisition is clear, as venturing abroad is inevitable to overcome the limitations of the relatively small domestic market. While the Korean musical market is on the verge of reaching a 500 billion won scale this year, its recent growth has somewhat slowed. Last year, the growth rate dropped to around 1%, but this year, a gradual recovery is underway. Overseas expansion based on IP is expected to serve as a breakthrough to overcome this stagnation.

Expanding overseas through IP aligns with the government’s policy direction of becoming a cultural powerhouse. The government has set ambitious goals of achieving 300 trillion won in K-content sales and 50 trillion won in exports by 2030. Although the overseas expansion of musicals is still in its early stages, it is a sector with the potential to become a new driving force for realizing the vision of a cultural powerhouse. The government’s significant increase in the musical support budget this year also reflects its intention to foster musicals as a future growth engine.

40 to 50 Korean Musicals Exported, Focused on Asia

Although Korean musicals have a 60-year history, their history of overseas expansion is relatively short. According to industry sources, the overseas export of Korean musical IP began around 2012, and it is estimated that approximately 40 to 50 works have been exported to date. Government-level export support has only recently become more active.

“Fan Letter,” which will hold its 10th anniversary performance at the CJ Towol Theater at the Seoul Arts Center on December 5, is a representative original musical that entered overseas markets with government support. Inspired by the story of “Guinhoe,” a literary group in Gyeongseong during the Japanese colonial era in the 1930s, the musical premiered in Korea in 2016 and held its first licensed performance in China in 2022. Over the following three years, it was performed more than 120 times in 28 Chinese cities, attracting over 100,000 audience members.

The K-Musical Roadshow by the Korea Arts Management Service in 2018 helped pave the way for “Fan Letter” to enter China. The musical’s showcase at the time received a positive response from local audiences, leading to a full-fledged licensed performance, and last year, it also successfully premiered in Japan.

However, so far, the overseas export of Korean musicals has been concentrated in Asia, particularly China and Japan. Entry into larger markets such as the United States and the United Kingdom remains limited. The only real example is “Marie Curie,” which was performed at the Charing Cross Theatre in London. “No Other Choice” and “The Great Gatsby,” both running long-term on Broadway, were produced in collaboration with local creative teams and thus are not considered examples of IP export.

Creators of the original musical "No Other Choice," Park Chunhyu (left) and Will Arenson are taking a commemorative photo at Radio City Music Hall in New York, USA, where the 78th Tony Awards ceremony was held on June 8 (local time).
[Photo by AFP Yonhap News]

Nurturing Creators Who Understand Western Sensibilities Is Key

In the long term, experts point out that nurturing creative teams who understand Western sensibilities is crucial for Korean musicals to enter larger markets such as the United States and the United Kingdom.

Jung Inhye, head of the Performing Arts Distribution Team at the Korea Arts Management Service, said, “In Asia, cultural similarities and audience preferences make it easier for works that succeed in Korea to resonate, but Western markets are very different. It is important for writers, composers, and producers to deepen their understanding of Western markets.”

Both “The Great Gatsby” and “No Other Choice,” which have succeeded on Broadway, owe much of their success to their incorporation of local sensibilities. “The Great Gatsby” is based on the novel by F. Scott Fitzgerald, while Park Chunhyu, the creator of “No Other Choice,” has worked in the United States and collaborated with American composer Will Arenson.

Won Jongwon, professor at Soonchunhyang University’s Department of Performing Arts and Video, emphasized, “Just as the establishment of the Korean Academy of Film Arts laid the foundation for the film industry’s development, it is worth considering the establishment of an academy to train musical theater professionals.” He added, “It is important to create an environment where creative teams can experiment freely and to revitalize the local performance ecosystem so that it is organically connected with Seoul.”

Currently, musical performances in Korea are excessively concentrated in Seoul. According to the Korea Arts Management Service, of the 40,872 musical performances nationwide last year, 67.7% took place in Seoul, and the greater metropolitan area accounted for 79.4%. Most regional performances are limited to touring shows of productions that have already succeeded in Seoul, serving mainly as additional revenue streams.

Professor Won suggested, “This structure needs to change. We should establish a virtuous cycle where performances are first created in the regions, and production companies in Seoul generate profits from them.”

In fact, on Broadway, it is common for shows to be staged in regional cities before making their way to Broadway. “Wicked” debuted in San Francisco in 2003 before opening on Broadway, and “Kinky Boots” premiered in Chicago in 2012 before moving to Broadway the following year. Professor Won advised, “Producing shows in the regions reduces production costs and allows for experimentation. If the regions serve as a testbed, we will see more diverse and higher-quality works.”