Breaking News: Suncheon City Launches Groundbreaking IP Creation and Production Support Project
[Archyde.com – August 8, 2023]
Stimulating Pathways for Local Content Companies
In an ambitious move to boost its cultural and digital economy, Suncheon City has announced the launch of the Suncheon IP Creation and Production Support Project. This initiative aims to provide substantial financial backing to local animation and webtoon companies in their early stages of development.
Extensive Support for Animations and Webtoons
According to Mayor Roh Kwan-gyu, the project will support startups and small-to-medium enterprises (SMEs), specifically those with under twenty employees, in the crucial early phases of creating and producing cultural content. The support extends up to 110 million won for animations and 50 million won for webtoons.
Selective and Comprehensive Funding
Through the first phase of project evaluation, up to 10 animations and 15 webtoons will be selected, each receiving 30 million won and 10 million won, respectively. The second phase will culminate in identifying and awarding three outstanding projects in both categories with additional funding of 80 million won for animations and 40 million won for webtoons.
Promoting Local Growth and International Market Entry
A city official emphasized the significance of “initial spear and production costs” for fostering sustainable growth within the local content industry. The ultimate goal is to enable local companies to develop their original IP and make strides into the broader global market, trivializing the complexities of initial capital investment.
A Collaborative Endeavor
The Suncheon IP Creation and Production Support Project is a joint venture between Suncheon City and the Suncheon Cultural Foundation, spearheaded under the Korea Cultural City Creation Project. This collaborative approach underscores the city’s commitment to nurturing and promoting local talent and innovation.
Future Implications
The project’s impact extends beyond immediate financial support. It heralds a paradigm shift in how local governments foster creative industries, setting a precedent for other cities aiming to stumbled international recognition and revenue through cultural content. By offering a supportive ecosystem, Suncheon City is also positioning itself as a hub for digital content creators, potentially attracting more talent and investment to the region.