Netflix and Jeju Special Self-Governing Province signed a business agreement (MOU) on May 16 to strengthen content production infrastructure and revitalize local culture and tourism in Jeju Island. The signing ceremony was attended by Netflix Asia Pacific Content Division Vice President (VP) Kim Min-young, Jeju Province Governor Oh Young-hoon, and other officials from both sides.
The main goal of this agreement is to strengthen ties with the local economy and tourism industry, as content based on Jeju Island continues to be a hit both domestically and internationally, and to create a practical support environment for creators.
Netflix has recently introduced the diverse charms of Jeju to global viewers through content such as the Jeju Island-based entertainment show <BokSsak CheotSuda> and <I've Been Single Since Birth but I Want to Be in Love> scheduled to be released in the first half of the year. Accordingly, Jeju Island is gaining attention for its potential as a content filming location, and this agreement is intended to institutionally support this trend.
According to the agreement, both parties plan to establish an institutional foundation for ▲ expanding incentives for content production in Jeju Island, ▲ simplifying filming-related permit procedures, ▲ reducing costs when using local infrastructure (facilities and equipment), and ▲ supporting the convenience of residence for overseas personnel.
In addition, the agreement is expected to contribute to the production of high-quality local content and strengthening the global competitiveness of K-content by not only revitalizing the content industry in Jeju Island but also expanding long-term support for domestic creators and production companies.
Netflix plans to use its global platform and marketing capabilities to introduce Jeju Island’s cultural and tourism assets domestically and internationally, and to pursue various cooperation measures to enhance the value of the local brand based on content. In addition to content-based promotion, specific collaborations such as linking domestic and international events and exposing Jeju-specific content are being discussed.
In addition, Netflix and Jeju Island plan to conduct joint research to analyze the impact of content on the local economy and tourism demand. The plan is to precisely analyze the ripple effects of local content production on the entire Jeju region, including employment, tourism, and infrastructure, and reflect this in future policymaking.
Netflix VP Kim Min-young said, “This agreement will serve as a foundation for sustainable growth in the domestic content industry, while also being a collaborative example that can have a positive impact on the local economy.” Jeju Governor Oh Young-hoon said, “Jeju is the first metropolitan government to sign a business agreement with Netflix, and through this, we will strengthen policy support so that Jeju can leap forward as a global content hub.”
- See more related articles
You must be logged in to post a comment.