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| Korean President Yoon Suk Yeol, center, speaks during the Global Creative Industry Leadership Forum at the MPA building in Washington, D.C., Thursday (local time). Yonhap |
Leaders of global film studios, streaming services gather on 'unprecedented scale' to discuss cooperation
By Dong Sun-hwa
President Yoon Suk Yeol vowed to give full support to promote cooperation between the content industries of Korea and the U.S. during the Global Creative Industry Leadership Forum in Washington, D.C., Thursday (local time).
Co-hosted by Korea's Ministry of Culture, Sports and Tourism and the U.S. Motion Picture Association (MPA), the forum took place on the fourth day of Yoon's state visit to the United States.
Yoon promised that he would come up with a model promoting co-production; boost human exchange and investment; and strengthen the copyright protection of content.
"The value of freedom is deeply rooted in the content made by Korea and the U.S.," he said. "This universal value of freedom is the core element of the stories that citizens of the world find relatable. With today's event, I expect to see the expansion of the cultural cooperation between the two countries that share this value."
He also asked the companies in Korea and the U.S. to join hands.
"When the companies of the two countries join forces, people worldwide will be able to receive comfort and hope amid their exhausting daily routines," Yoon said. "Please continue your collaboration and take on challenges so that diverse stories can be made into video content."
Paramount, Warner Bros. Discovery, NBCUniversal, Sony Pictures, Walt Disney and Netflix ― which comprise 77 percent of the world's film and video market and 45 percent of the global streaming market ― took part in the forum, which was also attended by six major Korean entertainment and content companies: CJ, SLL, Watcha, Astory, Raemong Raein and Creative Leaders Group Eight. Actor Lee Seo-jin, who currently appears on tvN's variety show, "Jinny's Kitchen," joined the event as well.
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| Korean President Yoon Suk Yeol talks to leaders of global film studios and streaming services at the Global Creative Industry Leadership Forum at the MPA building in Washington, D.C., Thursday (local time.) Yonhap |
According to the presidential office, it is "unprecedented" for MPA executives and six of its affiliated video content companies to gather in one place to discuss cooperation and exchange.
"The forum marks the first step of Korean content companies to discover ways to cooperate with global video content companies through strategic alliance," the office added. "It is also our first big step to present the gems of K-content to the world."
Culture Minister Park Bo-gyoon said during the forum, "In addition to security and economy, 'culture' and 'K-video content' are other keywords for President Yoon's state visit."
According to the ministry, the U.S. companies like Disney, Paramount and Netflix plan to invest in the production of more than 45 Korean content projects and further strengthen their ties with K-content industry insiders and creators.
The Korea Content Creative Agency (KOCCA) and the Korean Film Council (KOFIC) also signed an agreement with Netflix to foster young talent ― who will spearhead the future of K-content ― and to disseminate K-culture. Thanks to the collaboration, those working in Korea's content production industry will be able to interact with one another while acquiring an education.
Netflix previously made headlines for announcing that it would invest $2.5 billion in the Korean content industry over the next four years. The remark came during Yoon's meeting with the CEOs of U.S. companies on the first day of his state visit.
At the end of the forum, MPA Chairman/CEO Charles Rivkin gave Yoon a poster with an autograph of Ryan Coogler, the director of Marvel Studio's smash-hit superhero films, "Black Panther" (2018) and "Black Panther: Wakanda Forever" (2022). Some of the scenes in the former movie were shot on location in South Korea.
"'Black Panther' filmed some of its major scenes in Busan," Yoon said. "Likewise, I will provide active support so that Korea and the U.S. can create content together."
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