The Ministry of Culture, Sports and Tourism (Minister PARK Bo Gyoon, MCST) and the Korea Arts Management Service (President MOON Young Ho, KAMS) will hold the “K-Musical Market” at Sejong Center for the Performing Arts and Daehkro from June 21 (Tue) to 23 (Thur). This international market will be a venue for showcasing Korean creative musical works to major musical producers and investors at home and abroad and supporting investment attraction as well providing consultation. MCST held the first “K-Musical Market” last year to strengthen the investment for Korean musicals to advance into the international market. After the first K-Musical Market last year, 28 creative musicals were presented to domestic and foreign production companies and investment companies, and two overseas copyright contracts were signed and investment of more than 300 million won were made.

The Korean musical market has grown rapidly since the early 2000s. With the exception of two years due to the COVID-19, the domestic musical market has been showing stable growth since 2014, maintaining sales of 300 billion won. While the proportion of creative musicals is growing at around 30%, one of the advantages of the Korean musical is that there are many creative producers who have made musicals with passion and challenging spirit. At a time when Korean culture is attracting attention in the world, the K-Musical Market will become a platform that can grow into a platform, leading the Korean musicals so that to be positioned as new Korean content.

This year, major foreign musical producers and theater officials from the United States and Japan, such as Michael McFadden, Debbie Hicks, and Suemitsu Kenichi were invited to facilitate overseas advancement and investment in the Korean musical market, which includes 16 producers. During this year’s event, not only will the works be demonstrated and investment proposals will be made to major domestic and foreign stakeholders, but the event will also raise interests in the Korean musical market to form a practical cooperative network with domestic musical producers.

Musical Pitching is a session for broadening the domestic musical theater market into overseas, expanding business models to other content areas, and creating a stable environment for musical development. There will be also a networking of 1:1 Business meetings where domestic and international musical production companies meet with investors through reserved platform. As hosting this year’s event in the first half of this year, bigger interests in the market is expected in the musical field. One or two works with good reviews during this event will be supported for localization in the UK and China in the second half of the year. Anyone interested in Korean musicals can participate in the event. For more information on how to participate, please visit the official website (k-musicalmarket.kr).