South Korea is launching an ambitious new strategy to strengthen its television and streaming industry, with the government targeting a 30 trillion won (approximately $22 billion) market by 2030.
The Ministry of Culture, Sports and Tourism has introduced its latest broadcasting strategy as the domestic industry faces rising production costs, weaker advertising revenues, and increasing competition from global streaming platforms.
What Is South Korea’s $22 Billion Media Plan?
Under the new 2030 Broadcasting Vision, South Korea aims to grow its broadcasting and video sector by 20% from the 25 trillion won generated in 2024. The government also wants to more than double K-content exports, targeting $3.06 billion by 2030, up from $1.25 billion in 2024.
The plan comes as local producers face growing financial pressure and increasing dependence on international streaming platforms.
How Will South Korea Support Local Producers?
A major focus will be helping Korean production companies retain greater control over their intellectual property. Public funding, corporate loans, tax incentives and direct production subsidies will be combined to help independent companies finance up to 50% of average drama production costs themselves.
The government also plans to revise standard industry contracts to strengthen revenue-sharing arrangements and provide greater protection for local producers working with global streaming services.
What Does the Plan Mean for Digital Creators?
For the first time, independent online creators and short-form digital platforms will also fall within South Korea’s formal media support framework.
The government plans to launch an international convention, tentatively called K-VidCon, in 2028 to connect Korean digital creators with the global industry. Public funding will also support dubbing and subtitling, helping local producers distribute their content directly to international audiences.
Can Technology Drive the Next K-Content Boom?
Technology is another key part of the strategy. South Korea plans to upgrade its virtual production facilities in Daejeon and introduce generative AI technology at the Digital Magic Space facility in Seoul.
The initiative comes as Korean dramas, films and entertainment formats continue to expand their global reach. With its new strategy, South Korea is betting on stronger local production, greater IP ownership and new digital talent to sustain the international growth of K-content through 2030.
