DAEJEON < invest Korea

According to Yonhap News,

Daejeon City announced on November 10 that based on 'Convergence Special Video Contents Cluster (hereinafter referred as Special Video Cluster)' which recently passed the preliminary feasibility study by the Ministry of Strategy and Finance, it would foster related industries as future growth engines.

Daejeon plans to create 4,234 jobs by attracting 80 companies including content producers and special makeup and filming companies to the Special Video Cluster by 2026.

By doing so, Daejeon expects local sales of related industries to increase from the current KRW 4.9 billion to KRW 300 billion, while increasing added value of KRW 90.2 billion.

It will also support tenant companies and producers to supply more than 20 works per year to global video service providers, and hold 'Special Video Film Festival' by combining these contents.

It plans to attract famous overseas film schools to foster 100 graphic experts and 200 special make-up and video developers every year, and to attract tourists to visit drama and movie studios and the cluster complexes.

The Special Video Cluster will be built on the site of the west parking lot of Daejeon Marketing Corporation in Doryong-dong, Yuseong-gu, with 4 underground floors and 10 floors (total floor area of 35,280 square meters) by 2025. The project cost is estimated to be KRW 147.6 billion.

The cluster will include a motion capture/realistic video production studio, corporate office spaces, computer graphic editing room, video storage/high-speed transmission room, and professional training room, among others.

youngs@yna.co.kr

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Source: Yonhap News (November 10, 2021)