The Korea Herald reports that the Ministry of Culture, Sports, and Tourism has unveiled its Basic Plan for the Promotion of the Animation Industry. Among many new initiatives, this plan includes a 20 billion won ($14 million) animation-focused fund for 2025, with 150 billion won/1500억원 or $100 million raised by 2029.
The fund aims to promote and address challenges within the Korean animation sector by:
- Capitalizing on dominant K-content exports through adaptations of web novels, webtoons, and ‘AI-powered spin-offs to extend the lifespan and value of intellectual property.‘
- Reducing reliance on preschool content in animation, focusing on more animation for young adults and older audiences.
- Reducing dependence on TV broadcasting by incentivizing animation for streaming services and short-form content platforms.
- Promoting merchandise development through commercialization training, offering industry insights, and bridging small creators and larger firms.
- Developing talent through training programs in collaboration with universities and other institutions.
The Korean animation fund also looks abroad, aiming to increase international co-productions by introducing a cash rebate system, with funds for qualifying co-productions reimbursed if primarily produced in Korea. Last December, Japan and China recently pushed for more anime co-productions at a conference, which followed a formal co-production agreement in 2018. Korea’s plan also looks towards China and Southeast Asian countries, with government plans to support localizing and marketing through joint panels in animation markets.
AI is an important part of the plan. In addition to AI-powered spinoffs, not to mention the growing number of webtoons made through AI, the Korean government will ‘build an AI-powered ecosystem for animation production, distribution, and startup incubation.‘ Late last year, the Korean government held a policy meeting with streaming companies, where topics included promoting anti-piracy tools using AI-powered solutions and, similar to this current initiative, a 1 trillion won fund between public and private bodies to spread K-Content globally.
Private companies are also gaining animation know-how through forays into Japanese production; the South Korean animation studio Red Dog Culture House announced a business alliance with Studio Pierrot (Naruto, Bleach) last year. Meanwhile, Netmarble’s recent participation in animation production committees sees it involved with massively popular anime, such as Solo Leveling and Shangri-La Frontier.
Both anime are also receiving game adaptations by Netmarble, demonstrating its intentions for cross-media development. You can check out Netmarble’s upcoming Shangri-La Frontier game trailer, its new The Seven Deadly Sins: Origin trailer, and read our interview with Netmarble staff and Solo Leveling: Arise lead developer Seong-Keon Jin here.
Check out The Seven Deadly Sins: Origin‘s trailer:
Source: Korea Herald, via Variety (Both report 1500억원 as 1.5 trillion instead of 150 billion), Newsis
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