South Korean industry groups warn K-drama production is at risk of collapse
Twelve sector associations ask the government for support; the number of series produced in the country fell by about 30% from 2022, according to a producers' association.
Translated from the Portuguese original by the Panorama newsroom. Read in Portuguese
Summary written by the Panorama newsroom from the sources listed below. Facts are attributed to the original publications.
Twelve South Korean cultural associations asked the government on Wednesday (Nov. 4) for investment and support for the country's TV series production, the so-called K-dramas, warning that the sector's production base is at risk of collapse, according to g1, citing the Reuters news agency.
Despite the worldwide popularity of K-dramas, the number of productions has fallen by about 30% from the 141 series made in 2022, according to the Korea Drama Production Association. The groups also said three national television networks cut their output from 91 titles in 2012 to 32 in 2023, and that some channels stopped airing series on weekdays.
The groups, which represent producers, directors, screenwriters, actors, cinematographers and film crews, blame the decline on rising production costs, which they link to competition from well-funded global streaming platforms, broadcasters' reduced capacity to invest and the difficulty of securing intellectual property rights.
According to the associations, advertising revenue alone is no longer enough to cover the cost of series, which has made cutting production the rational choice for broadcasters.
The groups also criticized the South Korean government's 2027 budget proposal, which would cut 4.5 billion won (about US$3.35 million) from the Culture Ministry's funding for video broadcasting.