Lee Says He Will Order Review of Film Investment Tax Benefits Following Lee Chang-dong’s Proposal

Lee: "The Government Must Replace the Broken Ladder"
Lee Chang-dong Proposes French-Style Private Investment Support System
"The Tree Has Borne Great Fruit, but All the Small Trees Have Withered"
Warning Over Crisis in K-Content Ecosystem

President Lee Jae-myung announced on the 7th (local time) that he would instruct a review of providing tax benefits for individuals and private companies investing in film. This decision comes in response to on-site concerns that, although K-content is achieving global success, the industry’s foundation is weakening, such as the "ladder" for independent films and emerging creators to advance into commercial films being cut off.

President Lee Jae-myung is holding a hand sign and taking a commemorative photo during a conversation with filmmakers after the opening ceremony of the international film and video summit, 'Lumière Summit,' at the Mag Foundation in Saint-Paul-de-Vence, southern France, on the 7th (local time).

This event is a meeting with Korean directors and actors invited to the summit. From the right, actors Kim Do-yeon, Sol Kyung-gu, Jeon Do-yeon, President Lee, directors Lee Chang-dong, Jung Ju-ri, Kim Min-young, Executive Vice President of Netflix Asia Pacific Content, and moderator Ahn Hyun-mo. 2026.9.7 Yonhap News

During his state visit to France, President Lee held a roundtable titled "Next Scene: Discussing the Future of K-Content" at the Mag Foundation in Saint-Paul-de-Vence, with directors Lee Chang-dong and Jung Juri, actors Jeon Do-yeon, Sol Kyung-gu, Kim Do-yeon, and Kim Min-young, Vice President of Netflix Asia Pacific Content, to discuss the sustainability of the film industry.

President Lee also expressed concern about the current state of the domestic film industry. "Frankly, I have a bit of concern regarding the Korean film industry," he said. "It seems that the fruits have become very large." He continued, "The problem is, if we imagine, all the grass and small trees beneath have died and only a few large old trees remain. How long can these old trees survive? That’s my worry."

The assessment is that, although globally recognized directors, actors, and major content have emerged one after another, if the industrial foundation to consistently produce them weakens, the achievements of K-content may not last long. President Lee emphasized, "Just like in a lawn or grassland where countless grasses grow, and there are also small trees, and everything is constantly regenerated, a strong ecosystem is necessary."

Director Lee Chang-dong, who participated in the discussion, said, "On the surface, it seems as if the results are the most dazzling and abundant, but in fact, the structural crisis within has already begun." He cited his own new film, "Possible Love," as an example showing the contraction of the domestic film investment market, pointing out that he was unable to receive investment in Korea and could begin production only after receiving investment from Netflix.

Director Jung Juri also pointed out that even if independent films receive support for production, it has now become virtually impossible for them to enter the mainstream film market. She noted that the link connecting emerging directors and works from independent film to commercial cinema, which used to invigorate the industry as a whole, has weakened.

President Lee responded, saying, "The ladder has been cut off," adding, "Filling this gap is something the government must actually do." He explained that while large-scale commercial films with guaranteed profitability can secure investment from the private sector and global investors, the government needs to strengthen the foundation for independent and art films and for emerging creators to grow.

Additionally, director Lee Chang-dong introduced France's long-standing private film investment tax support system and proposed adopting similar policies in Korea. The core idea is not only for the government to directly subsidize production costs, but also to provide tax benefits to individuals and companies investing in film, so that private capital can flow into small and medium-sized productions, independent films, and projects led by new directors. After listening to Lee's proposal, President Lee responded, "I will instruct (the administration) to start reviewing this as soon as I return to Korea," and added, "I will inform you of the results later."

President Lee Jae-myung is delivering a greeting during a conversation with filmmakers held after the opening ceremony of the international film and video summit "Lumière Summit" at the Mag Foundation in Saint-Paul-de-Vence, southern France, on the 7th (local time).

This event is a meeting with Korean directors and actors invited to the summit. From right: Do-yeon Kim, Kyung-gu Sol, Do-yeon Jeon, President Lee, Chang-dong Lee, Joo-ri Jung, Min-young Kim, Vice President of Netflix Asia-Pacific Content, and Hyun-mo Ahn, the host. 2026.9.7 Yonhap News Agency

President Lee also expressed his intention to substantially expand government support for culture and the arts. In particular, he stressed that the government should play a role in discovering new material, nurturing writers, supporting production and distribution, and even establishing funds and attracting investment, especially in the fields of independent arts and pure culture. He went on to say, "From now on, you will feel the impact of policies in the cultural and artistic field that go beyond what those working on the ground may have imagined," and added, "I hope to create new hope and opportunities for our artists and cultural workers in the field."

He also acknowledged that the government is not fully aware of the concrete difficulties faced on the ground. President Lee stated, "The government is determined, so please make many suggestions about what efficient policies or budgets for culture and arts would look like," and added, "This is different from before. You are not forgotten or abandoned, so have the courage to make many proposals in reality."

Meanwhile, President Lee emphasized that the competitiveness of K-content ultimately comes from an ecosystem where new creators can continuously emerge, saying, "What is most uniquely Korean is what is most competitive." He continued, "We must provide those people with opportunities. Then grass will grow, trees will flourish, and great trees will emerge." At the conclusion of the discussion, when director Jung Juri requested a separate meeting to discuss how the proliferation of artificial intelligence (AI) is threatening the survival of creators in the film industry, President Lee replied, "Please contact me," and "Let’s definitely meet separately," foreshadowing a follow-up discussion.

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