Korean animation, game, and webtoon companies eye investing in PH

Companies specializing in animation, game, and webtoon from South Korea are looking to the possibility of investing in the Philippines.

The Philippine-Korea Creative Industry Cooperation Forum, co-organized by the Department of Trade and Industry (DTI), were attended by select government officials and 70 major Philippine creative content companies. In discussion were development policies of the local creative content market and investment opportunities.

In addition, the Korea Animation Producers Association and the Animation Council of the Philippines signed a memorandum of understanding, setting the baseline for collaborative measures in the animation industry.

According to Lee Hyuk, Secretary-General of the ASEAN-Korea Center, while the Philippines has been an attractive content market for all things Hallyu, it also has promising potential technical manpower. The ASEAN-Korea Center is an intergovernmental organization that promotes economic and socio-cultural cooperation between ASEAN member countries and Korea.

The effort is a follow-up to the Association of Southeast Asian Nations-Republic of Korea (ASEAN-ROK) Commemorative Summit last November in Busan, South Korea.