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Continuously Among Top 10 Countries Based on Hallyu Soft Power CloseContinuously Among Top 10 Countries Based on Hallyu Soft PowerThe 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"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 OpenContinuous Growth Trend of Korean Cultural Content IndustryIn 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.※ Source: Ministry of Culture, Sports and Tourism (2020), 2019 Content Industry Statistics -
Active Content Production of Global Companies Located in Korea OpenActive Content Production of Global Companies Located in KoreaForeign 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.- <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
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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
- <옥자>
Netflix
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Three Innovative Strategies for a New Leap Forward of the Cultural Content Industry OpenThree Innovative Strategies for a New Leap Forward of the Cultural Content IndustryThe 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"- 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
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Government-led Creation of Culture Hubs OpenGovernment-led Creation of Culture HubsBecause 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"- 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
※ Source: Korea Culture and Tourism Institute
Invest KOREA
Cultural Content PM
Lee Yoon Seo
Service Industry Promotion Team
T.+82-2-3460-3282
Recommendation on Locations
Industrial complex information
[Incheon Metropolitan City Yeonsu-gu] Songdo Knowledge and Information Industrial Complex(Incheon Free Economic Zone)
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Complex nameSongdo Knowledge and Information Industrial Complex(Incheon Free Economic Zone)
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Initial designation date2000.09.18
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Designated area(m2)2,401,745
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ManagementIncheon Free Economic Zone Authority
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Nearby RailwayBupyeong Station
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Distance from station(km)18
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Nearby AirportIncheon Airport
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Distance from airport(km)31
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Industrial water Supply capacity(ton/day)-
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Affiliation local governmentIncheon Metropolitan City Yeonsu-gu
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Population2,943,491
Industrial complex information
[Gangwon-do Chuncheon City] Chuncheon Urban High-tech Cultural Industrial Complex
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Complex nameChuncheon Urban High-tech Cultural Industrial Complex
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Initial designation date2008.01.25
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Designated area(m2)186,922
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ManagementGangwon-do Chuncheon City
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Nearby RailwayJipyeong Station
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Distance from station(km)60
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Nearby AirportWonju Airport
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Distance from airport(km)78
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Industrial water Supply capacity(ton/day)-
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Affiliation local governmentGangwon-do Chuncheon City
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Population281,854
Industrial complex information
[Gangwon-do Chuncheon City] Chuncheon Power IT Cultural Complex General Industrial Complex
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Complex nameChuncheon Power IT Cultural Complex General Industrial Complex
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Initial designation date2009.06.05
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Designated area(m2)353,659
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ManagementGangwon-do Chuncheon City
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Nearby RailwayYangpyeong Station
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Distance from station(km)49
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Nearby AirportWonju Airport
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Distance from airport(km)65
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Industrial water Supply capacity(ton/day)1,706(㎥/day)
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Affiliation local governmentGangwon-do Chuncheon City
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Population281,854
Industrial complex information
[Chungcheongbuk-do Cheongju City] Cheongju Urban High-tech Cultural Industrial Complex
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Complex nameCheongju Urban High-tech Cultural Industrial Complex
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Initial designation date2002.03.25
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Designated area(m2)47,900
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ManagementChungcheongbuk-do Cheongju City
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Nearby RailwayOgeunjang Station
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Distance from station(km)6
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Nearby AirportCheongju International Airport
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Distance from airport(km)9
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Industrial water Supply capacity(ton/day)-
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Affiliation local governmentChungcheongbuk-do Cheongju City
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Population843,782
Industrial complex information
[Gyeonggi-do Paju City] Paju Publishing Culture Information National Industrial Complex
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Complex namePaju Publishing Culture Information National Industrial Complex
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Initial designation date1997.03.26
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Designated area(m2)1,561,939
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ManagementKorea Industrial Complex Corporation
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Nearby RailwayPaju Station
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Distance from station(km)17
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Nearby AirportGimpo International Airport
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Distance from airport(km)29
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Industrial water Supply capacity(ton/day)2176(㎥/day)
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Affiliation local governmentGyeonggi-do Paju City
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Population459,158
Industrial complex information
[Gwangju Metropolitan City Nam-gu] Songam General Industrial Complex
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Complex nameSongam General Industrial Complex
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Initial designation date1979.07.04
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Designated area(m2)415,946
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ManagementGwangju City (Songam Industrial Complex Council)
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Nearby RailwayGwangju Station
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Distance from station(km)14
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Nearby AirportGwangju Airport
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Distance from airport(km)9
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Industrial water Supply capacity(ton/day)6000000(㎥/day)
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Affiliation local governmentGwangju Metropolitan City Nam-gu
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Population1,454,154