Independent organizations and institutions are advancing rapidly in the cultural content industry with the goal of developing their respective regions as the core of the nation's cultural content industry.
Gyeonggi Digital Contents Agency (GDCA, CEO: Kim, Mun-Su, Director: Kim, Byung-Heon) sealed an investment agreement on March 11 with MK Pictures and the animation production company Odoldogi.
These two companies are reported to be in the process of making a feature-length animation for theater, The Hen is Out in the Yard, based on children's storywriter Hwang, Sun-Mi's same-titled best seller.
This agreement follows the Gyeonggi-do Legend Creation Project's Investment in Animation Production for Theaters and is significant in that this is the first execution of Gyeonggi-do's KRW 100B cultural industry promotion investment fund. According to the agreement, GDCA makes an investment of up to KRW 700M, which includes KRW 560M for production cost and KRW140M for equipment, as well as promotion and marketing.
Gyeonggi-do has recently raised KRW 20M worth of cultural content fund via GDCA and has announced to invest directly in cultural content, concentrating on animation, game, film and cartoon.
To promote the cultural content industry, Gyeonggi-do and GDCA have established cultural content fund and focused its investment on related businesses, which is expected to contribute to the advancement of every identified cultural content field, which has recently been suffering a slowdown.
The Source : Koreacontent News Team
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