Ministry of Culture, Sports and Tourism Discusses Policy Directions for Revitalizing the Film and Video Industry

Advisory Committee Meeting...
Establishment of KRW 259 Billion Fund and IP Acquisition

The Ministry of Culture, Sports and Tourism will hold the third meeting of the Film and Video Subcommittee of the Cultural Arts Policy Advisory Committee at the National Museum of Modern and Contemporary Art, Seoul, on the afternoon of May 6, 2026, to discuss major issues in the film and video sector and future policy directions.

The Cultural Arts Policy Advisory Committee, launched in November 2025, consists of nine subcommittees covering film and video, popular music, publishing, and other fields. The Film and Video Subcommittee includes nine expert members from various fields, including Kwak Shinae, CEO of Sumokwon Film; Kim Jaemin, CEO of NEW; Lee Dongha, CEO of the Korean Film Producers Association; Jung Jongmin, CEO of CGV; Baek Jaeho, Chairman of the Korean Independent Film Association; and actor Lee Wonjong, among others.

At this meeting, the committee will share the current status and future plans regarding key agenda items raised at the previous second meeting, such as support for overseas expansion and intellectual property (IP) acquisition in the film and video industry, support for funding within the film industry, and measures to promote movie attendance.

The Ministry plans to promote an international film co-production support project in response to increasing demand for international joint productions abroad, as well as to implement a broadcasting and video international co-production project to support collaboration with overseas local platforms. In addition, it will expand the related support budget to help production companies acquire IP and increase the cap on production cost loans as part of efforts to expand policy financing.

To supply funds across the film industry, the Ministry will ease investment restrictions on policy funds and strengthen incentives for capital inflow. It will create a KRW 259 billion “K-Content·Media Strategic Fund” to provide large-scale investment capital and raise the priority loss coverage ratio for the Korea Growth Fund (Mother Fund) from 15% to 20%. Additionally, to promote movie attendance, the Ministry will distribute movie ticket discount coupons within the month of May.

During the meeting, the government will share various policies and projects in preparation for next year’s budget allocation and listen to support measures needed in the field. The meeting will also incorporate comprehensive support measures for the new media video content industry, such as YouTube and short-form content, which are rapidly emerging.

Choi Hwi-Young, Minister of Culture, Sports and Tourism, stated, “We are acutely aware of the challenges faced on the ground and the overall instability underlying the box office success of our film and video industry,” adding, “Based on the variety of opinions from the Advisory Committee, we will develop policies that will provide practical help in the field.”

This content was produced with the assistance of AI translation services.