The 'Short-form Syndrome' Noticed by the Government... A New Breakthrough Amid the Crisis of Traditional Dramas [12th Korea Cultural Content Forum]

[Financial News] 'Short-form', which has deeply penetrated daily life, has emerged as a powerful industrial language. TikTok, which has become synonymous with short-form, is gaining attention as an accelerating engine for the expansion of not only K-content but also K-brands. Short-form dramas, which have production costs at 1/50 to 1/100 of traditional dramas, are expected to be the starting point for new IP discovery and media mix expansion. It is said that the second 'Squid Game' or 'K-pop Demon Hunters' could emerge from short-form content.
The government is also highly interested in the growth potential of short-form. Kim Young-su, the First Vice Minister of the Ministry of Culture, Sports and Tourism, said in a congratulatory speech at the '12th Korea Cultural Content Forum' hosted by Financial News at Josun Palace Seoul Gangnam, Seoul Gangnam-gu, on the 17th, "The Ministry of Culture, Sports and Tourism will continue to provide various policy support and public-private cooperation so that K-content can be widely connected to the world through the new format of short-form."
In fact, the influence that K-content is exerting through TikTok, which is short-form, is growing.
Mattie Lin, General Manager of TikTok Korea Global Business Solutions, said, "K-culture has now permeated the daily lives of people around the world, and its influence is accelerating through TikTok," adding, "Last year, the consumption of K-content on TikTok increased by a whopping 1622%."
He emphasized, "It is the right time for Korean companies to seize opportunities in the global market," mentioning the case where gimbap videos became popular after the success of 'K-pop Demon Hunters', leading to a complete sell-out in the US in a short period, and that cultural influence is being converted into business influence.
Short-form is also shaking up the global business ecosystem. Park Chang-woo, CEO of Soon Entertainment, which encompasses various businesses such as MCN, commerce, and IP production, said, "The culture of following TikTok, the structure where the producer (influencer) is the consumer, and the simplicity of live commerce are factors driving the growth of short-form commerce," adding, "Short-form exerts the greatest ripple effect when memes, challenges, and commerce are combined. A platform economy centered on short-form is being formed not only in Korea but also in China, the US, and Europe."
Short-form is also of interest as it may become a new breakthrough for the K-video industry, which is feeling a sense of crisis. Min-seok Lee, CEO of Why Not Media, which sparked the web drama boom, summarized, "Short-form is daily life, a consumption habit, and both the starting and ending point of original IP." He explained that "the opportunity to overcome the crisis in the market upheaval was found in short-form dramas," and "short-form has a wide global market, diverse revenue structures, and it is easier for production companies to secure IP compared to long-form dramas costing hundreds of billions of won, and it is easy to apply AI technology's productivity and creativity."
Jung Ho-young, CEO of New Universe, defined "short-form drama as the 'third-generation media' of the streaming industry." He explained, "Unlike existing subscription-based OTT, it is a 100% user-selective consumption structure," adding, "The speed of global spread is fast through SNS and performance marketing, and the combination of advertising and branded content is also easy."

Special Coverage Team


jashin@fnnews.com Shin Jin-ah Reporter