Seoul: The new culture minister said Thursday that despite the global success of K-pop, films, and other entertainment, the reality he has witnessed inside the industries is one of "despair." "The reality I've seen, heard and felt while visiting various sites is so different from the glamorous image that it left me feeling perplexed and embarrassed," Culture, Sports and Tourism Minister Chae Hwi-young told reporters at his first press conference since taking office about a month ago.
According to Yonhap News Agency, the minister expressed concerns about the sustainability of the entertainment industry's current success. "This is indeed a huge opportunity for us, but many people in the industries speak of negative views and despair that we are now at the peak and face only decline," he said, referring to the growing global popularity of Netflix's original animated film "KPop Demon Hunters." Chae cautioned against complacency, warning that if the industry gets carried away by the "festive atmosphere," it may soon find itself in a quagmire.
The minister highlighted a severe crisis in the film industry, noting that fewer than 20 films with production budgets over 3 billion won ($2.15 million) are expected to be made this year in South Korea, compared to about 100 in a typical year. "Investment has stopped, and the film production scene has run out of money," he stated. He cited the example of renowned director Lee Chang-dong, who had to return a government grant after failing to secure additional investment for a new film and eventually turned to Netflix.
Further, Chae expressed frustration over the ministry's budget constraints, which he believes could hinder the expansion of K-culture globally. Despite interest from foreign studios in co-productions, the government lacks the budgetary support to facilitate such collaborations. He underscored the importance of not limiting "K-culture" to solely domestic productions.
Chae also pointed out the lack of infrastructure for K-pop performances, such as permanent concert venues. He remarked that even "hallyu" fans visiting Korea often cannot attend K-pop performances due to insufficient concert halls. He lamented that many areas where government funding could be pivotal have been neglected.
To address these challenges, Chae emphasized the need to increase the cultural budget. Although next year's budget is projected to rise by about 9.2 percent, South Korea still ranks in the lower-middle tier among OECD countries in cultural spending relative to the national budget. He pledged to carefully manage cultural policies to capitalize on current opportunities despite the unfavorable conditions.