South Korean province Gyeonggi is launching an investment fund and comprehensive production support program to promote joint ventures between the Hollywood and Korean entertainment communities. The announcement was made by Byung Heon Kim, President of Gyeonggi Digital Content Agency (GDCA).
Hollywood production companies and content creators, especially those working in animation and visual effects, are eligible to apply for the program when partnering with a Korean entity. Selected partners will benefit from a growing investment fund as well as top-of-line production and post- production support services in Hallyuwood, an expansive, entertainment complex in the northern Gyeonggi.
The first project to take advantage of the new opportunity will be DINO MOM, a 3D animated feature film for the international marketplace that is a collaboration between the Korean animation company Toiion and a producer and screenwriters from the United States.
"The U.S. is widely recognized as having the strongest and most robust system for producing and distributing films, broadcast programming and videogames to a global audience," said GDCA President Byung Heon Kim. "Our entertainment fund will unite this great Hollywood expertise with Korean creativity and technical know-how to produce new content for all to enjoy."
Since the late 1990s, Korean popular entertainment has risen to what many see as the leadership position in East Asia. This surge of interest in Korean films, television dramas, music and products is called Hallyu, the Korean Wave. Motion pictures such as OLD BOY and THE HOST, TV shows such as WINTER SONATA and musicians such as Rain have experienced overwhelming success with their high production values and universal themes.
The GDCA initiative will build on Hallyu's popularity as well as support its expansion into film and other content created with CG. To encourage CG productions, Gyeonggi has opened a school, Gyeonggi Digital Contents Academy, dedicated to training artists and filmmakers in 2D and 3D.
