The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency (KOCCA) signed a 'K-Content Innovation Growth Financial Support MOU' with the Industrial Bank of Korea (IBK) and the Korea Credit Guarantee Fund (KODIT) on December 29.

Through this partnership, the three organizations are building a collaborative framework to support the financing of domestic content companies recommended by KOCCA.

IBK will make a special contribution of 2 billion KRW to KODIT, which will serve as the foundation for providing a total of 40 billion KRW in guarantees to content companies. The financial products are scheduled to be launched within the first quarter of next year.

This agreement focuses on resolving the difficulties faced by content companies that lack sufficient collateral. By applying preferential terms through these guaranteed loans, the initiative aims to improve the financial operating conditions for these companies. Furthermore, it signifies the establishment of a 'public finance cooperation model' between policy financial institutions and industry promotion agencies to strengthen the foundation for the growth of the content industry.

Yoo Hyun-seok, Acting President of KOCCA, stated, "This agreement is significant as it lowers financial barriers for K-content companies and establishes a practical policy finance foundation to support industrial growth." He added, "KOCCA will continue to strengthen cooperation with financial institutions to support stable funding for content companies and systematically expand conditions for the sustainable growth of the K-content industry."