The Ministry of Culture, Sports and Tourism has announced its commitment to promote investment in the production of various cultural content, including films and TV dramas.

To that end, the ministry plans to invest some 138-billion won in 'fund of funds' (FoF) and funds investing in film production to focus support on making TV dramas and computer graphics, and to guarantee that production of such content will not be scrapped midway in order to reduce investment risk in the industry. Fund of funds is a mutual fund that invests in other mutual funds.

In addition, the Korean Film Council and guarantee companies will be required to inject 20-billion won over the following two years to guarantee loans given to producers of films that are intended for export.

The cultural ministry estimates an investment of 650-billion won in the above ways until 2012 will create 10-thousand jobs.