The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency announced on the 6th that they are recruiting companies to participate in the “Global OTT Platform Linked Production Support” project. This year, in collaboration with platforms like Viu, Rakuten Viki, and DramaBox, they will select roughly seven projects with a total budget of 6.8 billion KRW. They’ve increased the number of platforms from two to three and added short-form genres to the previously drama and non-drama centered support areas.
Viu, a Southeast Asia-based OTT platform, will support around two projects including one drama and one non-drama, with a budget of 2.5 billion KRW. Rakuten Viki, which services over 200 countries worldwide, will focus on full-length dramas, supporting around two projects with up to 2 billion KRW per project. DramaBox, which leads the short-form market, will support around three projects with up to 100 million KRW per project.
A key feature of this initiative is that global OTT platforms will be involved from the project selection stage and will collaborate on both investment and broadcasting. Domestic production companies will jointly secure intellectual property (IP) with the platforms, allowing them to establish a foundation for long-term profit generation.