Government Unveils Five-Year Roadmap for Broadcasting and Video Industry Two Years Ahead of Schedule
Targeting 30 Trillion Won in Revenue by 2030
Strengthening IP Acquisition and Response to Illegal Websites
The government has unveiled a five-year industry roadmap two years ahead of schedule to address the overwhelming market dominance of global online video services (OTT) and the soaring production cost crisis.
On September 10, the Ministry of Culture, Sports and Tourism announced the '7th Mid- to Long-Term Development Plan for the Broadcasting and Video Industry (2026-2030).' The objective is to advance the broadcasting and video industry, which, during the implementation of the 6th plan in 2024, reached 24.9944 trillion won in revenue and $1.25718 billion in exports. By 2030, the target is to increase annual revenue to 30 trillion won and exports to $3.06 billion. The proportion of production companies with annual sales of over 10 billion won is also set to be doubled from the current 13.9% to 27.8%.
The government is focusing on strengthening production companies' intellectual property (IP) ownership and nurturing content creators as core drivers of this growth. To enable production companies to secure their own IP, beyond providing funds, loans, and tax benefits, subsidy support will be expanded so that companies can self-finance up to 50% of the average drama production costs, which range from 10 to 15 billion won. Additionally, industries such as YouTube are being recognized as primary sources of original IP, and the entire process from planning to distribution will be supported.
Once the domestic production base is solidified, efforts will be made to enhance the distribution network competitiveness of local platforms and expand Korea's reach as a global production hub. For the overseas expansion of domestic OTTs, support will be provided for improvements in video and audio quality, dubbing, and subtitles, and joint productions between domestic studios and foreign broadcasters or studios will be facilitated. The location incentive program (production cost reimbursement) to attract large-scale overseas blockbusters to film domestically will also be expanded. In addition, the scale of the international broadcasting and video market (BCWW) will be increased, and the Asia Drama Conference will be brought back to establish a global hub.
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Legal and regulatory reforms, as well as the elimination of unfair practices, will go hand in hand to support industrial expansion. A comprehensive legislative framework for the promotion of video content—including broadcasting/video, OTT, film, animation, and new media content (creator content, AI-based videos, and virtual humans)—will be established. The virtual studio at Studio Cube in Daejeon and the Digital Magic Space (DMS) studio facilities in Sangam-dong, Seoul will be fully renovated. Furthermore, standard contracts for both broadcasting and creators will be revised or newly established, and the emergency blocking system for illegal websites implemented since May will be utilized to respond to copyright infringement.
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