As part of an international series aiming to demonstrate how Canadian producers can benefit from looking beyond borders, this report focuses on the state of the television and gaming industries as well as the augmented and virtual reality market in South Korea.
This document presents you with information on South Koreans’ preferred genres and media consumption habits, South Korea’s regulatory environment, current trade agreements with Canada, the country’s major broadcasters and industry events, as well as expert advice.
- South Korea boasts the world’s highest level of internet penetration at 90% and fastest Internet speeds.
- At present, co-ventures by which a South Korean broadcaster is a Canadian company’s production partner as opposed to a buyer, appear to represent the real opportunity in the region.
- There are approximately 14.5 million cable TV subscribers and almost two dozen cable operators in South Korea.
- Although IPTV has only been available in South Korea since 2008, its user base is equal to that of cable TV, has been growing at a faster rate and is expected to exceed cable connectivity by the end of the current year.
- South Korea’s VR and AR market is expected to increase from a current US$7 billion to a whopping US$40 billion by 2020.
- The Canada-Korea Free Trade Agreement reduces or eliminates tariffs in certain markets to facilitate competitive advantages across various industry sectors, including the media and entertainment industries.