Ministry of Culture, Sports and Tourism earmarks 24.7 billion won for next year’s musical budget; new support for long-running productions

[Financial News] A new support program is set to launch next year to help original musicals continue into long-running productions after their premieres. The government plans to allocate 24.7 billion won in its proposed budget for the musical sector and support works in creation, distribution and overseas expansion in line with their stages of growth.
According to the Ministry of Culture, Sports and Tourism on the 14th, Minister Choi Hwi-young is chairing the third meeting of the Musical Subcommittee of the Cultural and Arts Policy Advisory Committee that morning at the Seoul branch of the National Museum of Modern and Contemporary Art in Jongno-gu, Seoul. The meeting is to discuss next year’s proposed government budget and the direction of specific programs.
According to the Korea Arts Management Service’s “2025 Report on Ticket Sales Analysis in the Performing Arts Market,” ticket sales for musicals totaled approximately 498.9 billion won last year, up 7.2% from the previous year. Over the same period, the number of productions rose 13.9% and the number of performances increased 14.6%.
Next year’s proposed budget for the musical sector is 300 million won more than this year’s 24.4 billion won. Of that amount, 3.9 billion won has been allocated to a new program to develop flagship works (repertoire) of original musicals. The program will support production companies and private venues as they collaborate to stage long-running productions.
Support for venue rentals dedicated to original musicals, as well as staged readings and showcase performances, will also continue. Overseas expansion programs, including the “K-Musical International Market” and touring roadshows, will strengthen the support system for musical intellectual property (IP) at each stage of growth.
The proposed government budget also includes 51.7 billion won for supporting the creation of performing arts, 96.9 billion won for regional performance distribution, and 96.6 billion won for the social safety net for artists. All three amounts are higher than this year’s.
The meeting will also discuss policy measures, including tax credits, to address rising production costs and investment burdens, as well as the need to enact the Musical Industry Promotion Act. Six committee members will attend, including Lee Jong-gyu, chair of the Korea Musical Theatre Association; Lee Seong-hun, CEO of Show Note; and actor Choi Jung-won.
Minister Choi said, “We plan to work with the musical industry to jointly design specific support measures so that the musical budget can have a real impact on the ground.”
[email protected] Jang In-seo Reporter