It gives me immense pleasure in welcoming all of the distinguished guests to
‘The 5th Korea Cultural content Forum’ hosted by ‘the First-Class Economic Daily’
Financial News. Especially I would like to thank Tae-Kang Roh, vice minister of
Culture, Sports and Tourism, and Young-Joon Kim, director of Korea Creative Content
Agency, who graced with their presence despite their busy schedules. I also thank Professor
Michael D. Smith at Carnegie Mellon University who will deliver the keynote address at this forum.
The global cultural content industry has constantly undergone a radical change
in the last twenty years. In particular, the evolution and innovation of platforms
by technological advancement have dramatically changed the situation of cultural
content industry. Ten years ago, ‘Netflix’ was just a fast follower which lagged behind
‘Blockbuster LLC’, an American-based provider of video rental services. But now it has
grown into a great business of a market cap of about 137 billion dollars
(approx. 150 trillion won) with 125 million subscribers worldwide.
There are more platform providers who have shake the backbone of the content industry:
Apple, Facebook and Amazon including web mobile-based YouTube, originator of
‘movie streaming platform’; Tencent, Baidu and Alibaba in China; Kakao, Naver, Africa TV,
Oksusu and Tving in Korea. These providers are creating a new business opportunity
based on the platforms.
The Financial News has decided ‘New Platform, New Contents(플랫폼 혁신과
콘텐츠산업의 미래)’ as the theme of this year’s ‘Korea Cultural Content Forum’.
We included the spirit that a platform enterprise even in Korea which will dominate
the world market will appear. By the way, we hope this forum will help take
competitiveness of Korean cultural content industry a step further.
We wish all of you well. Thank you.
Kim, Joo Hyun
President & CEO,
The Financial News