Seoul: The Korea Trade Insurance Corp. (K-Sure) announced plans to expand trade insurance support this year for the cultural content industry, which aims to enhance its exports in response to the increasing global popularity of Korean culture.
According to Yonhap News Agency, K-Sure provided a total of 185.8 billion won (US$128 million) in trade insurance to nearly 150 content companies last year. The company officials have indicated that there are plans to further increase this support capacity by 2026.
The initiative by K-Sure is anticipated to assist Korean content companies in increasing their exports, driven by the rising demand for Korean music, films, games, and other related content. This strategic move comes as part of a broader effort to capitalize on the worldwide interest in Korean cultural products.
In addition to the current trade insurance support, K-Sure introduced a special credit guarantee program for the culture industry last year. Through this program, 17 content companies successfully exported a combined total of $42 million, demonstrating the effectiveness of these financial support measures in facilitating international trade within the cultural content sector.