Korea's Toon Biz Growing
Created 07/20/2005 - 23:00
files/pictures/picture-35.jpgKorea's animation industry is seeing increased growth as it moves from a subcontractor to a source of original productions, reports ARIRANG NEWS. For years, Korean producers had a hard time even garnering an audience in their own country, always being overshadowed by products from Walt Disney and Studio Ghibli.
Previously due to limited animation technology and an under-funded industry, Korea was mainly producing outsourced works from companies overseas. However, in recent a shift has occurred where Korean houses are engaging in international co-productions creating stories and developing characters with wider appeal.
The Korea Culture and Content Agency says the size of the domestic animation market grew to $314 million in 2003. The number of animated works that have been produced has risen 25% from 2002 to 2003. Korea made $11.4 million on the sale of rights to Korean made animated films in 2003, a 45% increase from last year.