As Korean content continues to captivate global audiences, the Korea Creative Content Agency (KOCCA) is broadening its international footprint with the opening of a new office in Singapore.
This expansion positions KOCCA at the centre of Southeast Asia’s financial and innovation hub. As a result, this will provide unparalleled opportunities for investors, startups and businesses to engage with Korea’s thriving content industry.
KOCCA’s move into Singapore clearly underscores the agency’s commitment to fostering Korean creative content. Consequently, this will raise its presence and collaborations within the Southeast Asian market. In particular, the agency aims to bridge the gap between the two regions, offering a platform where innovation, creativity, and technology converge.
“For KOCCA and the Korean content industry, Singapore is a key strategic market. Korea’s creative strengths, combined with Singapore’s financial and technological expertise, create a powerful foundation for global expansion,” says KOCCA Regional Director Sang Wook Park. “We look forward to building strong partnerships and enabling Southeast Asian businesses and investors to tap into the immense potential of K-content,” he adds.
Also read: Why Korean investors are getting attracted to Southeast Asia
Korea’s Content Industry: A Global Powerhouse with Expansive Opportunities
The Korean creative content industry has evolved into a global cultural phenomenon. For example, K-pop, K-dramas, gaming, and digital media resonate with audiences across the world. Consequently, in 2022, South Korea’s content market ranked as the world’s eighth-largest, boasting a value of US$68 billion and generating US$13.24 billion in exports.
With a growing influence worldwide, Korean content has clearly solidified its place in the global economy. Accordingly, South Korea ranked 10th in Brand Finance’s Nation Brand Index among 193 countries, further highlighting the country’s cultural impact.
As a result of recognising the economic potential of K-content, the Korean government is driving substantial investment into the sector. By 2027, it aims to position Korea among the top four content-exporting nations globally. To achieve this, the government has launched a comprehensive Global Strategy for K-Content. This includes the establishment of a US$444 million K-Content Strategy Fund as part of a broader US$1.28 billion policy initiative.
Moreover, over the next five years, US$2.5 billion will be funnelled into the content industry. US$1.76 billion of this will be specifically allocated to the cultural sector through the Fund of Funds. Further, an additional US$734 million dedicated to the K-Content and Media Strategic Fund. Thus, this financial backing supports both the development of intellectual property (IP) and technological innovations such as AI, immersive content, and virtual reality.
KOCCA’s Strategic Initiatives in Singapore
With the opening of its Singapore office, KOCCA aims to enhance its efforts in promoting the Korean creative content within Southeast Asia with a focus on Singapore. Evidently, the agency recognizes that Singapore’s reputation as a financial and technological hub positions it as the perfect base for the agency’s regional expansion. Through this office, the agency will launch various initiatives that integrate creative content with technological advancements, support Korean startups entering Singaporean and Southeast Asian markets, foster dynamic partnerships, and provide investors with access to Korea’s thriving content landscape.
In particular, key initiatives lined up for KOCCA’s Singapore office in 2024 include:
- Launchpad: An acceleration program specifically designed to help content tech startups navigate the Singapore market.
- UKNOCK: An IR pitching platform especially dedicated to connecting Korean content creators and IP holders with Southeast Asian investors and businesses.
- Participation in Major Industry Events: The agency will actively participate in key industry events such as the Asia TV Forum and Singapore Week of Innovation and Technology (SWITCH). This will in effect showcase Korean creative content and explore new partnership opportunities.
Also read: KOCCA NIGHT: K-Content Unleashed in Singapore
KOCCA Grand Opening Celebration
The agency will celebrate its official launch in Singapore with the event “KOCCA NIGHT: K-Content Unleashed in Singapore”. This will take place on the 29th of October at The Executive Centre, Capital Square in Singapore. Presently, the event will introduce the agency’s initiatives to stakeholders and industry leaders. Not only will they showcase 10 of Korea’s most promising content tech startups, but they will also explore how K-Content is shaping the future of entertainment with advanced technologies.
Participating startups are:
- Twigfarm: A content localisation tool that uses AI to overcome language barriers. They will provide multilingual support and SDH subtitles for universal communication.
- PIASpace: A real-time CCTV analysis software. This uses multimodal AI to detect emergencies and anomalies with over 95 per cent accuracy, thus enhancing community safety.
- Muse Blossom: A content technology company offering “Audio Defence.” Specifically, this is an audio watermark solution that securely tracks and verifies audio files through inaudible signatures.
- B4Play: A gaming data platform selling self-constructed game metadata to various industries. In general, this includes TV and automotive manufacturers.
- Video Monster: Operates two platforms: “VideoMonster” for marketing video creation and “ViiV.” The latter generates and supplies user-uploaded travel videos to global travel companies.
- Witz: An automated IP licensing transaction platform. It streamlines the licensing process with standardised contracts and a user-friendly workflow.
- Production GOGEUM: A music distribution platform. In fact, it supports over 3,800 artists globally. Further, it has plans to launch “SOUND POUCH” for fan investment in music rights.
- Braindeck: Provides voice solutions for content companies. This includes voice restoration, creation, and deepfake detection. As a result, this enhances intellectual property value.
- Ninedock: A fintech platform that connects financial institutions with ad agencies. In particular, it utilises a credit scoring system for advertising contracts and invoices.
- Beat Corporation: A food tech company focused on robotic automation and platform development. Specifically, it aims to lead the global market through innovative services and app expansion.
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Featured Image Credit: KOCCA
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The Korea Creative Content Agency (KOCCA) was established in 2009 under the Ministry of Culture, Sports and Tourism to support the growth and global expansion of Korea’s creative content industry. Currently, KOCCA provides support for a wide range of content sectors, including broadcasting, music, gaming, fashion, animation, and tech-driven content, such as VR and AI.
KOCCA operates 25 overseas business centres, helping Korean creators and companies expand their reach in international markets. With its new Singapore office, KOCCA is taking a bold step forward in its mission to lead the global creative content industry and foster meaningful collaborations across borders.
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