- Minister’s interview with Nikkei MJ -

On August 10, 2020 (Monday), Nikkei MJ, a distribution/marketing journal published by Nihon Keizai Shimbun in Japan, ran an article entitled “K-Wave of the World, Dancing Money” on pages 1 and 5. The report looked into the factors that contributed to the Korean content industry’s success, along with an interview with Minister Park Yang-woo of the Ministry of Culture, Sports and Tourism (MCST).

Strategic human resource development, the driver for content industry growth

In the interview, Minister Park remarked that, although the ministry has set aside KRW 965 billion (16% increase compared to previous year) for the content industry in 2020, the main player is the private sector. He stressed that the full potential of the private sector should be realized by fostering human resources.

Attributing the success of the film Parasite to the initiative and ideas of the film’s writer/director Bong Joon-ho, the minister said that the Korean government has been strategically fostering human resources for the industry, including specialized training programs for filmmakers.

* Korean Academy of Film Arts, Korean Film Council (1984–present)

- Regular courses (directing, cinematography, production, and animated film majors)

- On-the-job training programs, including feature production courses (7–8 feature films produced per year)

- Produced around 700 filmmakers, including Bong Joon-ho

Minister Park also mentioned the importance of good translation for Korean content’s success outside the country and the government’s plan to develop systems for long-term fostering of translation talents, which can be difficult for private entities.

Online performance events powered by VR and AR

The minister continued that the ministry will secure a sufficient budget to help audiences experience online content in new ways starting next year to keep up with the growth of global video platforms (YouTube, Netflix, etc.) and the spread of online streaming and virtual/augmented reality (VR/AR) during the COVID-19 pandemic.

Content industry growth boosting the nation’s image and economy

Minister Park concluded the interview by saying, “Korea reported a total content export of USD 9.6 billion in 2018 (trade surplus at USD 8.4 billion). The growth of the content industry boosts Korea’s image and its economy.”