Korean content, often referred to as K-Content, has surged in popularity on a global scale, captivating audiences with its diverse array of entertainment offerings, ranging from gripping dramas to melodious music, stunning animation, and immersive webtoons. Recognizing the immense potential of K-content to foster cultural exchange and spur economic growth, the South Korean Ministry of Culture, Sports, and Tourism has embarked on a mission to promote and export K-content to international markets.

Central to this endeavour is the series of “K-Content Expos” held across different countries. These events aim to showcase Korea’s rich cultural heritage and foster partnerships between Korean content creators and global audiences. 

Launched in 2016 by the ministry and the Korea Creative Content Agency (KOCCA), the K-Content Expo primarily focuses on facilitating business-to-business interactions within the content sector. It also champions Hallyu (Korean Wave) content in burgeoning markets, thereby bolstering the exports of domestic companies.

Solidifying Korea’s Position as a Cultural Powerhouse

Korea aims to solidify its position as one of the world’s top cultural powers by boosting its content exports, including TV dramas and pop music, as highlighted by the Ministry of Culture, Sports, and Tourism. Presently, Korea ranks 7th globally in terms of market share in the content industry.

According to the ministry, the K-Content industry has already emerged as a significant sector of the country’s exports, contributing $12.4 billion in 2021, surpassing home appliances ($8.6 billion) and displays ($3.6 billion). China, Taiwan, Hong Kong, and Japan collectively account for more than 50 percent of the total export value of the content industry.

The Ministry’s K-Content Export Strategy, dubbed the Three E’s (Expansion, Extension, and Effect), outlines an ambitious roadmap to broaden Korea’s content markets, focusing on regions such as the Middle East, North America, and Europe. With a goal to achieve $25 billion in content exports by 2027, the ministry injected 790 billion won ($609 million) in 2023 and plans to inject 1 trillion won ($766.5 million)in 2024 in policy funds to support the expansion of content exports. 

Exploring K-Content Expos Worldwide

K-Content Expos hosted in different countries play a vital role in the Ministry’s K-Content Export Strategy. Shin Yongshik, director of the ministry’s Hallyu Content Cooperation Division, stated, “Through these events, we hope to secure the sustainability of Hallyu by spreading it globally and promoting the diversification of export markets.” He further added, “We will expand and run the K-Content Expo to boost the export competitiveness of domestic content companies and spearhead the overseas expansion of Hallyu.”

K-Content Expos have been successfully held in the past in countries such as Singapore, Vietnam, Thailand, Spain, and UAE. The 2023 edition of the K-Content Expo commenced in London in July, followed by subsequent iterations in North America, including the United States and Mexico in September and Belgium in November.

Looking ahead to 2024, K-Content Expos are scheduled to be hosted in countries like Malaysia, India, France, Sweden, Indonesia, and Germany. These upcoming events are expected to further amplify Korean entertainment’s global reach and strengthen partnerships with international markets, contributing to Hallyu’s sustained expansion and influence worldwide.

UK: Marking a Milestone in Global Promotion

The “K-Content Expo in the UK” was held from July 24-27, 2023, at the Queen Elizabeth II Centre in London. This event marked a significant milestone in the global promotion of Korean content, with 35 Korean firms and 60 buyers from Europe participating. The expo featured one-on-one export consultations, content trend seminars, investment attraction events, and a networking reception. Three days of intensive business meetings culminated in signing memorandums of understanding, reinforcing agreements made during export consultations.

USA & Mexico: Enhancing Competitiveness in North America

In September 2023, the Ministry of Culture, Sports, and Tourism organized the K-Content Expo in the US, & Mexico.  From September 18-20, the US event was held at the Biltmore, Los Angeles. Seventeen Korean content companies participated in the expo, engaging in various activities such as investment briefings, export consultations, exchange meetings, and workshops.

Participants also visited Paramount Pictures and Warner Bros. to explore potential business collaborations. Additionally, the ministry, along with KOCCA, supported the Korean joint pavilion at “New York Comic Con” and “2023 K-Story & Comics in America” in October. These events aimed to enhance the competitiveness of K-Story and Comics IP in North America, attracting 60 confirmed buyers and promoting K-content through tailored B2C and B2B programs.

The K-Content Expo took place in Mexico from September 11-14 at the Hilton Mexico City Reforma hotel, aiming to attract buyers from countries like Mexico, Peru, Argentina, the US, and Canada. Seventeen Korean content companies participated in the event, promoting Korean culture through investment briefings, export consultations, exchange meetings, and workshops.

Additionally, Korean participants visited TelevisaUnivision and TV Azteca to explore business opportunities in Mexico’s content industries. Furthermore, the ministry established overseas business centers in Mexico to support marketing efforts, connect projects, and enhance infrastructure facilities for Korean content companies abroad.

Belgium: Fostering Collaboration in Europe

The K-Content Expo in Belgium took place from November 7-10 in Brussels, aimed at bolstering the presence of Hallyu (Korean Wave) in the European market. Twenty-five Korea-based content companies participated, engaging in one-on-one export consultations, joint workshops by sector, consulting sessions with local experts, and exchange meetings with 50 purchasing companies from Belgium, the Netherlands, and Poland.

The event commenced with joint workshops on November 7 covering various content-creating sectors and consultations on legal matters related to intellectual property. From November 8-10, Korea-based content companies conducted individual consultations with overseas buyers, supported by on-site interpretation and assistance in formalizing agreements.

Empowering Hallyu Globally

The K-Content Expos serve as pivotal platforms for showcasing Korea’s rich cultural tapestry and fostering enduring connections between Korean content creators and global audiences, thus driving Hallyu’s continuous growth and influence on the world stage.

With strategic initiatives such as the K-Content Expos held worldwide and plans to tailor content to suit diverse cultural backgrounds, the Korean government aims to capitalize on the surging popularity of Korean entertainment.

Furthermore, by extending support to industries like webtoons and OTT streaming services, the government seeks to broaden the influence of K-Content beyond traditional media platforms. As the global demand for K-Content continues to rise, it is poised to generate positive ripple effects across various sectors, from fashion and beauty to technology and construction, further solidifying Korea’s position as a cultural powerhouse on the world stage.

Keep tab on latest news in the Korean startup ecosystem & follow us on  LinkedIN, Facebook, and Twitter for more exciting updates and insights.