Korean entertainment agencies, broadcasters and production companies are look Southeast Asia, Japan for growth opportunities
The relationship between Korea and China hit a historic low amid Korea’s deployment of Terminal High Altitude Area Defense (Thaad), taking a toll on the Korean entertainment business whose main export markets include China.
Critics said South Korea’s dependence on China is too high and companies are looking for ways to attract viewers and other local fans.
After “My Love from the Star” was sold for 40 million won ($40,000) per episode and the price of its publication rights in China increased ten times in just three years.
SBS taken a new turn, looking to explore a new market, Indonesia, a land with over 200 million people. SBS will join with a local Indonesian home shopping brand Lejel and open two new channels – “SBS-IN,” a channel specializing in K-pop and “SBS Shop,” a home shopping channel.
SBS producer said ““As Korean cosmetics are popular due to the influence of Korean pop culture, it [will create] buzz in the Southeast Asian market”
In October established two local subsidiaries in Thailand and Vietnam, in order to make Southeast Asia a second base. In January, a channel which airs Korean movies all day long called ‘tvN Movies’ began in Singapore, and is planned to expand to Malaysia, Philippines, and Indonesia.
Three members from the group are Japanese, and even before their official debut hit song “TT” is already gaining popularity.
2PM continuing their activities in Japan. After ended concert in the Tokyo Dome ended as a huge success, and two members from the group hosted solo concerts last December and January.
BIGBANG Daesung will perform for Japanese fans at a Tokyo Dome concert next month.
Their has signed contract with Netflix, which airs in 190 countries. “As the dates kept delaying, I was afraid that the value of the contents might decrease. FNC has decided to cancel the contract.
Korea Ministry of Culture, Sports and Tourism announced it will increase financial support for Korean content companies exporting to China.
116 billion won in the first half of this year to help companies in the areas of games, music, performance and animation. The amount was originally earmarked for the entirety of 2017.
According to the source，the ministry might have to secure a greater budget for the second half as a result but emphasized that they will first monitor how the situation unfolds over the months. Eventually, the ministry hopes to help companies diversify their content export markets, particularly in making inroads into Southeast Asian countries.