- “K-content” and “K-culture,” the impressive keywords of the successful summit diplomacy event in the US

- The cultural alliance is one of the pillars of the Five Value Alliances; President YOON said, “Cultural content is a catalyst for building deeper understanding and friendship between the citizens of the two countries.”

- Netflix announced the investment of USD 2.5 billion in the K-content industry; the MCST signed MOU with the Smithsonian Institution for cultural cooperation

- Accelerate the regulatory reform for the integration of Korean films and culture into the single global market

- The MCST established the “ROK–US Cultural Alliance Task Force (TF)” to expand Generation MZ human exchange and cultural alliance projects

The Ministry of Culture, Sports and Tourism (Minister PARK Bo Gyoon, MCST) announced on April 30 (Sun) that, in light of the clear emergence of a “cultural alliance” as a pillar of the ROK–US alliance during President YOON Suk Yeol’s successful visit to the United States, it will thoroughly review its related policies and pursue follow-up measures in a well-organized and prompt manner. To achieve this, the MCST has formed the “ROK–US Cultural Alliance Task Force (TF)” to centralize the capabilities within the MCST.

Minister PARK Bo Gyoon of MCST, who accompanied President YOON, said, “It is groundbreaking that ‘K-culture’ and ‘K-content’ were highlighted as other keywords for bilateral diplomacy between the two countries. The drastic expansion of the ROK–US alliance into a cultural field reflects President YOON’s vision and passion for cultural content. In order to integrate Korean films and culture into the single global market, which President YOON emphasized, we will speed up the reform of regulations that do not meet global standards.”

❙ “Cultural content” emerged as another keyword from the first summit diplomacy event

During his meeting with Netflix CEO Ted Sarandos on his first official schedule in the United States, President YOON emphasized that “the ROK–US alliance is a valuable alliance that protects freedom” and that “culture is an essential requirement to preserve and expand freedom.” He also signaled that cultural content would be another keyword of this diplomatic visit, highlighting the importance of cultural content in the alliance. During the meeting, President YOON led the negotiation for Netflix’s K-content investment worth USD 2.5 billion (approximately KRW 3.3 trillion). In his speech to the US Congress on the 27th (local time), he also noted that “cultural content is a catalyst for the people of the two countries to build deeper understanding and friendship beyond the differences in nationalities and languages.” He even added a touch of humor by mentioning that “even if you didn’t know my name, you may know BTS and BLACKPINK.”

At the state dinner on April 26 (local time), President YOON’s rendition of “American Pie” was met with cheers and a standing ovation from the audience, including Broadway musical stars watching him with admiration. It was a symbolic moment of how culture can bring the two countries closer together.

❙ Reform the regulations for culture and films that do not fit into the single global market

President YOON emphasized the need to ease regulations to revitalize culture and soft power. President YOON said, “I think the world is a single market. Among the various culture and film-related regulations in Korea, if any that do not conform to these world-class global standards. It will definitely be abolished,” he said in his remarks at the “Global Creative Industry Leadership Forum.” In addition, in an interview with Harvard University Distinguished Service Professor Joseph Samuel Nye, Jr., in response to the question, “What efforts will be made further to strengthen Korea’s position as a cultural powerhouse?,” President YOON replied, “If there are unnecessary regulations, we will dismantle them, and we will work to remove regulations in individual countries so that we can create a global single market.”

❙ K-video content’s heightened status and competitiveness: Demonstrate joint leadership in the global market

Representatives from the Motion Picture Association (MPA), which accounts for 77% of the world’s film and video market and 45% of the global over-the-top (OTT) media service market, gathered at the “Global Creative Industry Leadership Forum” on the afternoon of the 27th (local time) to showcase the increased global stature and influence of K-content. Paramount Pictures, Warner Bros. Discovery, NBCUniversal Media, Sony Pictures, The Walt Disney Company, and Netflix attended to discuss content collaborations with Korean companies, as synergies are emerging between Korean companies creating and supplying killer content through US global platforms. The Korea Creative Content Agency (KOCCA) and the Korean Film Council (KOFIC) signed an MOU with Netflix to foster young talent and promote K-culture. Under the MOU, the three organizations will collaborate to train 2,000 young professionals over the next five years.

❙ The first MOU with the Smithsonian Institution lays a groundbreaking foundation for cultural cooperation and synergies to expand tourism exchanges

On the afternoon of the 27th (local time), the MCST signed an MOU with the Smithsonian Institution to significantly expand cultural exchange and cooperation between the cultural institutions of these two countries. This agreement established a groundbreaking foundation for cultural cooperation, including exhibition and personnel exchanges, and joint research on historical and cultural issues between 23 national museums and art galleries under MCST and 21 cultural and arts institutions under the Smithsonian Institution. This MOU is also expected to be an important foundation for expanding the “tourism exchange” between the two countries through various exchange exhibitions.

❙ Strengthening exchanges between the Generation MZ youths, the future of the alliance

On the 25th (local time), a “K-Tourism Strategy Meeting” was held at the Old Korean Legation Museum (a diplomatic legacy from the late 19th century) in Washington, DC with Generation MZs and experts from New York and Washington, DC to discuss ways to attract more American tourists by leveraging the recent K-culture craze, aiming for one million visitors this year. In addition, as the vision for expanding personal exchanges between the two countries was presented, such as Korea–US Youth Special Exchange Initiative, there will be a focus on programs for exchanges between cultural and arts institutions, residency programs, opportunities for exchange in the content industry, education for fostering talent in content production, and invitation programs for various fields to promote exchange opportunities for the Generation MZs of both countries.