South Korea plans massive investments in the animation industry through 2029.
To boost global competitiveness, South Korea is planning a significant investment in its animation industry. Learn how this move aims to stimulate K-content exports and unlock new creative opportunities. Discover the details and stay informed!
The Korea Herald reports that the Ministry of Culture, Sports and Tourism has unveiled its fundamental plan to promote the animation industry.
This plan includes, among other things, an animation fund of 20 billion won ($14 million USD) for 2025, which is projected to grow to 150 billion won ($100 million USD) by 2029.
Promoting and Tackling Challenges in the Korean Animation Sector
The fund aims to foster the Korean animation sector and address challenges within it. This will be achieved by leveraging dominant K-content exports through adaptations of web novels, webtoons, and AI-powered spin-offs to extend the lifespan and value of intellectual property.
Furthermore, the plan seeks to reduce the reliance on content for preschool children by shifting the focus to animation for young adults and older audiences.
Diversifying Distribution Channels and Promoting Merchandising
Another key point is reducing dependence on television broadcasting by incentivizing animation on streaming services and short-form content platforms.
Moreover, the development of merchandising will be promoted through commercialization training, industry insights, and connecting smaller creatives with larger companies.
Talent Development and International Collaborations
Talent development will be driven through training programs in collaboration with universities and other institutions. The Korean animation fund is also looking abroad, aiming to increase international co-productions. This is to be achieved through the introduction of a cash-rebate system, where qualified co-productions primarily produced in Korea will receive financial support.
Last December, Japan and China advocated for more anime co-productions at a conference, following a formal co-production agreement in 2018. Korea's plan is similarly focused on China and Southeast Asian countries, with the government planning to support localization and marketing through joint appearances at animation markets.
Integrating Artificial Intelligence into Animation Production
A key component of the plan is Artificial Intelligence (AI). In addition to AI-powered spin-offs and the growing number of AI-generated webtoons, the Korean government will establish an AI-powered ecosystem for animation production, distribution, and startup incubation.
At the end of last year, a policy meeting was held between the Korean government and streaming companies. Topics included promoting anti-piracy tools using AI-powered solutions and, similar to the current initiative, a 1 trillion won fund between public and private entities for the global distribution of K-content.
Private Sector Involvement in the Animation Sector
Private companies are also gaining expertise in the animation field through engagements in Japanese production. For example, South Korean animation studio Red Dog Culture House announced a business partnership with Studio Pierrot (Naruto, Bleach) last year. Netmarble's recent involvement in production committees for animations demonstrates its commitment to very popular anime titles such as Solo Leveling and Shangri-La Frontier.
Both anime titles are also receiving game adaptations from Netmarble, highlighting the company's intentions for cross-media development. Trailers for Netmarble's upcoming Shangri-La Frontier game and the new The Seven Deadly Sins: Origin are available, as is an interview with Netmarble employees and the lead developer of Solo Leveling: Arise, Seong-Keon Jin.
[youtube]https://www.youtube.com/embed/2pKzsk2k9d4[/youtube]https://twitter.com/denfaminicogame/status/1904399757591892421South Korea's ambitious plans underscore its aspiration to take a leading role in the global animation industry.
The combination of government support, the use of AI, and the active participation of private companies could significantly shape Korean animation in the coming years.
Sources: Korea Herald, via Variety (Both report 1500억원 as 1.5 trillion instead of 150 billion), Newsis