BBC Studios has entered the Korean content game in a big way.
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The BBC’s commercial outfit has partnered with the Korean Creative Content Agency (KOCCA) on a Memorandum of Understanding (MOU) that will see the “production, investment, and distribution of global broadcast and video content” between the partners. Separately, KOCCA has struck a deal with Korean streamer Viu.
The broad aim is for BBC Studios and Viu to make and distribute shows, along with “other necessary matters for the development of the domestic and international broadcast and video content industry and the establishment of a fair ecosystem,” they said.
The MOU was established to address “limitations and challenges” in the current broadcasting space such as rising costs and a decrease in factual shows, according to the announcement, coming after a gloomy Edinburgh TV Festival that spotlighted these issues . KOCCA said it “plans to secure genre diversity in K-content and facilitate stable overseas expansion through co-operation” with BBC Studios and Viu.
The move comes as the BBC prepares to launch Made in Korea, a high-end new reality series from Asylum Entertainment-backed Moon&Back Media in which wannabe K-Pop stars compete to form a band, which is sold by ITV Studios. BBC Studios already has a footprint in Korea, running channels and a content hub. Viu has been operating for 10 years and is one of the leading OTT platforms in Southeast Asia with shows including A Good Day to be a Dog and Deadline’s first Global Breakout Reborn Rich. But Viu is competing against the likes of Netflix, which is spending billions in Korea following the smash hit success of Squid Game – soon to launch its second series.
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The MOU was struck during a Broadcast Worldwide 2024 strategy session in Seoul attended by senior execs from all parties.
KOCCA President Hyun-rae Jo said: “The collaboration with BBC Studios and Viu will be a significant turning point in expanding the global reach of K-content.”
Ryan Shiotani, SVP Content, BBC Studios Asia, added: “South Korea is a dynamic creative industry and we know there are lots of brilliant Korean stories waiting to be told to a wider audience. Our new collaboration with KOCCA to develop, co-produce and distribute Korean documentaries will contribute to the future of the global broadcast and video content industry.”
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