Ministry of Science and ICT fosters OTT and metabus to realize 'global media powerhouse'
Ministry of Science and ICT jointly with related ministries Focus on nurturing the three major media: online video service ( OTT ), metaverse , and creator media to nurture the digital media and contents industry as a new growth and export engine in Korea.
On the 18th, Minister of Science and ICT Lee Jong-ho announced the 'digital media and contents industry innovation and global strategy', saying, "We will achieve the national task of becoming a global digital media and content powerhouse."
Based on digital innovation and strong K-content power through advanced information and communication technology (ICT) convergence, it is a plan to lead K-media and K-content global advancement and preoccupy future new markets. Next year alone, 110 billion won will be invested based on the government budget to fully support the growth of the OTT, metabus, and creator media industries.
Support the global growth of OTT platforms and contents. It plans to hold the 'Global OTT Awards' in conjunction with well-known international events such as the Busan International Film Festival, promote K-OTT to the world, and attract foreign investment by holding a showcase at the same time. In addition, by utilizing APEC and digital ministerial meetings, high-level government meetings with OTT and content companies are held to promote international exchange.
It plans to share local market information and support localization of OTT companies through overseas bases such as overseas IT support centers. It will also increase support for production companies and OTT consortiums so that production companies and OTTs can cooperate to secure original content. It plans to support participation in international content markets such as the Cannes series and MIPCOM and expand tax credits to OTT. It will also develop technologies necessary for realistic and customized services.
Foster the metaverse as a next-generation media platform. Leads the establishment of an 'open service model' that creates and distributes metaverse media and contents through cooperation between broadcasters and producers with intellectual property (IP) of broadcast video content and developers with metaverse technology.
In connection with large-scale international events such as '2030 Busan World Expo', it demonstrates the metabus media in which the world participates and uses it as a bridgehead for overseas expansion. Video content conversion using new technology, Non-Fungible Token ( NFT ), It also supports the development of core technologies such as digital humans .
In addition, it promotes the creation of solid jobs by supporting creator media. Going beyond support for one-person media creators, the plan is to foster companies and industries through support for each stage of growth, contribute to media diversity, and expand quality jobs.
It discovers and nurtures new job groups, such as realistic one-person content planners, and establishes a 'self-sharing career management system' in which creators in each field voluntarily participate, such as editing and filming, to help job seekers. The protection of the rights of individual media workers is also strengthened.
It will also lay the groundwork for innovation in the digital media and content industry. Expand three major investment streams: government funds, industry investment, and investment innovation by grafting new technologies to ensure that content investment can continue to attract capital. It plans to activate the creation of virtual production infrastructure that can overcome time and space limitations and create a 'digital media innovation hub' that can jointly utilize government programs, facilities, and equipment.
Minister Lee said, “The rapidly changing media and content industry, centered on OTT, metaverse, and creator media, is a key industry that will determine national competitiveness in the future and a new job that can unleash the infinite imagination of young people.” He added, “We will achieve a virtuous cycle of development in which the elevated digital media platform raises the power of content again, and will support entry into overseas markets beyond the domestic market.”
