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  • Continuously Among Top 10 Countries Based on Hallyu Soft Power Close
    Continuously Among Top 10 Countries Based on Hallyu Soft Power
    The Korean film Parasite won the Palme d'Or at the 2019 Cannes Film Festival and the Best Picture at the 2020
    Academy Awards. BTS joined the top 10 list in the Billboard Hot 100 in 2018 and 2019 and its song “Dynamite” topped
    the Hot 100 in 2020, marking a pivotal moment in the history of global cultural content industry.
    "Korean cultural contents recognized in the global market"
    ‘Parasite’ Investment distribution CJ ENM, ‘BTS’ Big Hit Entertainment, the agency Large view of images
    The size of the Korean cultural content industry has reached USD 69.2 billion (outlook for 2020), making it the seventh
    largest in the world, and it is expected to grow 5% on average every year until 2023.
    "Size of Worldwide Cultural Content Market"
    (Unit : billion)
    Size of Worldwide Cultural Content Market ranking, Country, year(2018~2023), '18~'23 Average annual growth rate (%)
    ranking Country 2018 2019 2020 2021 2022 2023 CAGR from 2018 to 2023 (%)
    1 US 8,415 8,764 9,131 9,455 9,779 10,077 3.67
    2 China 3,407 3,653 3,883 4,097 4,302 4,485 5.65
    3 Japan 1,889 1,939 1,993 2,037 2,083 2,125 2.38
    4 Germany 1,114 1,146 1,182 1,215 1,246 1,278 2.78
    5 UK 1,026 1,068 1,111 1,150 1,188 1,221 3.54
    6 France 768 788 809 829 847 865 2.42
    7 Korea 623 656 692 727 762 795 5.01
    8 Canada 566 588 611 634 656 678 3.69
    9 Italy 462 485 509 531 554 575 4.46
    10 Brazil 407 432 460 487 514 539 5.8
    ※ Source: KOCCA (2020), 2019 Overseas Content Market Analysis
    ※ Footnote: Estimation for 2018, outlook for 2019 to 2023
  • Continuous Growth Trend of Korean Cultural Content Industry Open
    Continuous Growth Trend of Korean Cultural Content Industry
    In 2018, the Korean cultural content industry recorded USD 108.7 billion in sales, USD 9.62 billion in exports, and
    hired 667,000 people. The average annual growth rate grew steadily over the five years from 2014 to 2018 at 5.9% for sales, 16% for exports, and 2% for employment.
    By industry, sales were the highest in the publication industry and broadcasting industry, consecutively. Exports were
    highest in the game industry, posting USD 6.4 billion, accounting for 66.7% of total exports from the cultural content industry.
    Sales USD 108.7 billion Average annual growth rate in five-year period from 2014 to 2018: 5.9%, Exports USD 9.62 billion Average annual growth rate in five-year period from 2014 to 2018: 16%, Employment 667,000 people Average annual growth rate in five-year period from 2014 to 2018: 2% Large view of images
    ※ Source: Ministry of Culture, Sports and Tourism (2020), 2019 Content Industry Statistics
  • Active Content Production of Global Companies Located in Korea Open
    Active Content Production of Global Companies Located in Korea
    Foreign direct investment is made primarily in relatively larger businesses, such as publication, film, broadcasting, games,
    and entertainment. Netflix and Huayi Brothers are representative examples of companies that have entered the Korean market.
    Please refer to the information below
    • <옥자> Netflix
      • Invested USD 700 million (KRW 800 billion) in content production after entering the Korean market in 2015 to October 2020
      • Invested USD 50 million, the total production cost, for the film that released in 2017
      • Invested in the entertainment show in 2018
      • Produced dramas and in 2019
    • Huayi Brothers
      • Promote investment in Korean content companies to meet increasing demand for cultural content in China
      • Invested USD 8 million in a film production company Merrychristmas in 2018, acquired 75% of stocks, and changed to a subsidiary
      • Strategic equity investment by buying E-Land World stocks in 2019 and support marketing and medica commerce utilizing actors and actresses from the company
    Large view of images
  • Three Innovative Strategies for a New Leap Forward of the Cultural Content Industry Open
    Three Innovative Strategies for a New Leap Forward of the Cultural Content Industry
    The Korean government proposed various policies and incentives in September 2019, such as three innovative strategies
    and financial support, for a new leap forward of the cultural content industry. In addition, in 2020 a group of funds worth
    USD 72 million was created to invest in eight areas, including adventure content, film, games, content intellectual property (IP), animation, and characters.
    ※ * Adventure content: Content that poses risks at the early stage of production
    "Goal of Cultural Content Industry in 2022"
    Please refer to the information below
    • Sales: 1,140.6억 달러('19) > 1,397.8억 달러('22) 22.5% 증가
    • Exports: 103.6억 달러('19) > 134.2억 달러('22) 29.5% 증가
    • Jobs: 66.2만명('19) > 70만명('22) 5.7% 증가
    • Sales of immersive content: 24.1 억 달러('19) > 98.9억 달러('22) 310.7% 증가
    • Export of Hallyu consumer goods: 36.5억 달러('19) > 50억 달러('22) 37% 증가
    • Number of content companies with sales of at least KRW 10 billion: 1,700개('19) > 2,000개('22) 17.6% 증가
    Large view of images
  • Government-led Creation of Culture Hubs Open
    Government-led Creation of Culture Hubs
    Because of the cultural content industry’s characteristic of being led by human resources, 90% of cultural content companies
    are located in the Seoul metropolitan area.Following the government’s policies to foster regional cultural industries, locations favorable for each genre are being created.
    The government led the creation of a cultural industry complex, a cultural industry promotion complex, and cultural
    industry promotion facilities, aiming to create synergic effects by attracting cultural content companies and integrating
    related industries. According to the Framework Act on the Promotion of Cultural Industries, resident companies in those complexes are granted exemptions of charges, approval and permission benefits, and tax benefits.
    "Location of Major Cultural Industries in Korea"
    Please refer to the information below
    • Chuncheon – Edutainment content
    • Bucheon – Comics, animation
    • Goyang – Broadcasting image (broadcasting, film, animation, game)
    • Incheon – Next generation immersive content
    • Seongnam – Games and IPTV
    • Cheonan – Cultural design
    • Cheongju – Edutainment, content
    • Daejeon – Advanced images (film), games
    • Andong – Images, handcrafts, performance/exhibition
    • Jeonju – Korean traditional cultural content, images
    • Daegu – Games, mobile content, characters, new media content
    • Gwangju – Cultural center city of Asia, cultural industry investment promotion zone
    • Busan – Film, games
    • Jeju – Digital images, mobile content
    Large view of images
    ※ Source: Korea Culture and Tourism Institute
Invest KOREA
Cultural Content PM
Lee Yoon Seo Service Industry Promotion Team
T.+82-2-3460-3282
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