MDA, KBC Announce Deal

SINGAPORE, June 21: The Media Development Authority of
Singapore (MDA) and the Korean Broadcasting Commission (KBC) have signed a deal
to foster co-productions between their respective markets.

The arrangement ensures that approved television
co-productions between producers or broadcasters in Korea and Singapore qualify
as local content in both markets, thereby fulfilling broadcaster quotas and
benefiting from tax incentives.

Both countries also will not impose discriminatory
restrictions on the import,
distribution and exhibition of television programs from each market.

Dr. Cho Chang Hyun, the
chairman of KBC, noted: “This is a win-win partnership for media companies and
broadcasters from both sides as they are now able to pool resources and talents
for co-productions easily. This, in turn, creates a larger distribution network
for quality exportable media content in each other’s domestic markets as well
as for the international market.”

The MDA’s chairman, Dr. Tan Chin Nam, added: “Our ongoing
collaborations underscore Singapore’s long-standing relationship with Korea.
The co-production arrangement on broadcasting programs between KBC and MDA will
further cement the strong ties between our governments and media industries.
The arrangement is expected to generate new opportunities for our media
industry to enter into television co-productions with their Korean counterparts
to leverage on each other’s talents, resources, scripts, technical expertise
and financing to come up with engaging television programs for each other’s
audiences as well as for the international market.”