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Charm of Korean Wave for Content Industry Spread to Eurasia which Connects East and West Civilizations (November 26)

- Hold broadcasting content showcase in Turkey and Ukraine

- Pioneer markets for content industry of Korean wave such as signing of MoU and holding consultation meetings

The Ministry of Science and ICT (MSIT) jointly held a showcase on broadcasting content with National IT Industry Promotion Agency (NIPA) in Turkey on 23 November and in Ukraine on 26 November.

[Broadcasting content showcase] Hold business meeting and broadcasting content showcase by inviting local buyers to provide support in domestic broadcasting content to enter overseas emerging markets

o In the event, total 11 broadcasters including domestic terrestrial broadcasters such as MBC and KBS media along with professional television channels on K-Beauty and Fashion such as Donga TV held one-on-one business meetings with broadcasting content buyers, content screening, investment signing ceremony with the participation from promising local broadcasters and program distributors.

Turkey has the second largest population in West Asia of 80 million people and K-Beauty is active in going global through channels such as theater platforms. With an annual economic growth of 5%, the broadcasting market of Turkey is attractive in that it is expected to increase by an average 4.2% each year for the next five years (2016-2021) to reach 2.3 billion dollars.

* ’2017 overseas content market trends’ (KOCCA: Korea Creative Content Agency)

o Ukraine is a strategic hub of New Northern policy and a major consumer of contents which imports 60% of programs broadcast on television. Korean soap operas including “a jewel in the palace” and K-pop music including “Gangnam Style” were popular in Ukraine.

In this showcase, terrestrial broadcasters including MBC and KBS media and cable channels including CJ E&M, JTBC and Donga TV, 11 qualified small-and-medium content producers such as AB Media, Magic Video, Play-on-cast, Grafizix and Super bean participated to showcase around 50 pieces of contents from a variety of genres including popular soap operas, animations, documentaries and VR contents.

o Through this event, Play-on-cast signed a MoU with Dreambots, a media producer and distributor of the U.K. on promoting cooperation in the field of contents production and distribution in Turkey, in regard to global joint production and distribution.

- Magic Video promoted the charm of Korean wave to not only the host country but also neighboring countries by signing of a distribution agreement of animation “the quarreling wonderland” between public broadcaster of Moldova near Ukraine and MRT.

MSIT plans to continuously support diversification and expansion of contents export market of Korean broadcasters and producers by tapping into emerging markets other than regions where Korean wave is already popular such as China and ASEAN.

o In 2017, showcases were held in countries like Indonesia, Peru and Kazakhstan and support was provided to exporting contents worth 6.07 million dollars. In 2018, MSIT contributed to expanding the influence of Korean wave such as having consultation with Vietnam and Mongolia on export and co-production of animation.

* In 2018, Magic Video sold contents worth 200,000 dollars to AVG co. of Vietnam and AB Media is in the process of co-producing animation based on Genghis Khan with CH7 of Mongolia (worth 300,000 dollars).

Director General Kyung Hee Song of International Cooperation Bureau of MSIT said, “the Korean government will make sure to provide full support to see contents of Korean wave being recognized globally will not only gain popularity but also there will be an increased exports of broadcasting contents.”

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