Minister of Culture, Sports and Tourism Choi Hwi-young stated on July 15 that the government will explore fundamental measures to improve the cash flow in the broadcasting industry.
Choi held an emergency meeting with representatives from the broadcasting sector to assess the situation following JTBC's application for corporate rehabilitation and to discuss response strategies.
Attendees included Minister Choi, Kim Yoon-ji, head of the Korea Creative Content Agency, and leaders from major independent production companies that have business ties with JTBC, as well as representatives from relevant industry associations. They directly listened to on-the-ground concerns and discussed effective government support measures.
Choi expressed understanding of the industry's worries that the situation with JTBC could lead to a contraction in production and investment across the domestic broadcasting sector. He emphasized, “We will actively seek available policy measures to ensure that the broadcasting industry receives treatment commensurate with its excellent production capabilities and the value of its works.”
Participants raised concerns about delays in production cost payments from JTBC and the potential for reduced drama programming, highlighting the operational impacts and broader repercussions for the industry. They called for proactive government support to minimize the fallout on the broadcasting ecosystem.
Meanwhile, the Ministry of Culture is receiving reports of damages, such as unpaid production costs, through the Fair Coexistence Center at the Korea Creative Content Agency. To prevent a downturn in the broadcasting industry, the ministry plans to expand next year's production support budget and the scale of low-interest loan assistance for the sector.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.