Industry & Policy 1

So what has brought Korean formats to this breakthrough point? The most obvious cause is quality. Local producers have been very shrewd in the lessons they have taken from global television trends but have combined them with ambitious twists that are uniquely Korean. This balance gives Korean formats a mixture of familiarity and freshness that is enormously appealing to overseas licensees, elivering shows that stand out but are easy to market. That this has coincided with the stagnation of many western regions, where legacy IP such as 〈MasterChef〉 and 〈Big Brother〉 still dominate the schedules, has created a perfect storm of opportunity.

Another reason for Korea’s rapid ascension in the format market is that foreign broadcasters, producers, and distributors who have inked deals with Korean partners have been impressed with their working relationship. That sort of word of mouth endorsement is priceless. While researching our January 2020 report¹⁾ into the Korean format phenomenon, K7 Media heard back from multiple western producers who lavished their Korean counterparts with praise. ‘Rewarding’, ‘an absolute pleasure’, ‘very creative’, and ‘incredibly collaborative’ were just some of the direct quotes we received. One particularly illuminating comment said “in the west producers think from A-B but in Korea they think from A-F..... and even J!” This ability to think and ideate beyond expected format boundaries is what makes the difference.

Complacency shouldn’t be encouraged, however. The international format market is notoriously fickle, with many territories that produce a handful of hits before trending downwards again, their potential left untapped. Now that Korea has the attention of the world, what can be done to sustain it for the long term?

One key strategy must be to continue with what has brought Korea to this point. Having an active and engaged industry body like KOCCA should not be overlooked in this success story, allowing creativity to be nurtured, best practices to be shared and notable talents to be promoted. That level of coordination requires an exemplary national organisation, and KOCCA is currently the envy of many western producers in that regard.

Changes will also be required, though. Right now the Korean TV industry is still heavily broadcaster-led, with the major networks acting as the conduit for most development and sales. That top-down investment is crucial, of course, but Korea’s independent producers must also be built up and given access to the global stage directly. The old adage regarding too many eggs in one basket springs to mind, and with a flourishing indie production sector alongside the networks, the chances of Korea generating global hits for the future becomes much more likely.