Customized credit program to better support creative content makers in Korea

Korea's character and animation industries... are growing rapidly,... but they are still suffering from a chronic lack of funds. Now,... the country's Creative Content Agency and Credit Guarantee Fund... have come together to provide local businesses... with customized financial support. Park Se-young has more. This animation is shown on TV and has been turned into a musical. It's considered a successful case of university-business cooperation, but it's nearly impossible for the characters' creators to attract investment. (Korean) "We need to have collateral assets and provide financial statements. It's almost impossible to get investment, and the financial sector usually turns us away." The industry's investment climate is gloomy as it is difficult for creative content to be recognized as a valuable asset. This is why the Korea Creative Content Agency and Credit Guarantee Fund have prepared a customized support program for the 80-odd percent of content makers that are considered small businesses. (Korean) "Our financial service offers content businesses long-term loans at low interest rates without demanding collateral." When businesses apply for the program, the Korea Creative Content Agency reviews their content value and credit rating …and calculates the credit they can be guaranteed. Park Se-young, Arirang News.