KOFIC Announces New Investment Strategy

Published on 2009/03/19 | Source

The Korea Film Council has just released its planned activities for the coming year. In it comes a continued macro approach designed to strengthen the overall film industry rather than focusing on single players. KOFIC will inject 10 billion Korean Won (U.S. $6.6 million) into a new mid sized investment fund and 2.5 billion ($1.7 Million) for independent films. There are also plans to create a new 2.2 billion won international co-production fund to boost Korea's presence in overseas' film markets. In terms of less mainstream contents, KOFIC will launch a new "cultural contents development agencies" programme designed to promote original work.