Korea Technology Finance Corporation Signs Agreement with Dongseo University and BIFAN to Foster Regional Cultural Content Industry
Full-Cycle Support from Discovery to Production and Commercialization
Korea Technology Finance Corporation announced on July 9 that it has signed a "business agreement for the establishment of a full-cycle pipeline for discovering, producing, and commercializing regional cultural content" with Dongseo University and the Bucheon International Fantastic Film Festival (BIFAN).
This agreement was established to build a support system that covers everything from discovering outstanding regional content to production and commercialization, and to support the sustainable growth of local cultural content companies.
Under the agreement, Dongseo University will foster local artificial intelligence (AI) video and cultural content companies and recommend content production companies with high growth potential. Korea Technology Finance Corporation will provide recommended companies with preferential guarantees, investment, technology transfer, technology protection, and other financial and non-financial support. BIFAN will discover outstanding scenarios and cultural content through competitions and, leveraging its global network, support the growth of promising creators.
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Furthermore, with this agreement as an opportunity, the parties have decided to jointly plan and operate initiatives such as information sessions for public offerings, and to expand tailored support for regional cultural content companies. Cheon Changho, Director at Korea Technology Finance Corporation, said, "This agreement is meaningful as a collaborative model that organically links the discovery, production, and commercialization of regional cultural content, talent development, and financial support." He added, "Korea Technology Finance Corporation will continue to expand cooperation with relevant institutions to actively support local cultural content companies in growing into globally competitive enterprises."
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