Dated: 19 January 2005
The Korean Broadcasting Commission (KBC) today signed a Memorandum of Understanding (MOU) with the Media Development Authority of Singapore (MDA) to co-operate in the field of broadcasting. The MOU was signed by Dr Noh Sung-Dai, Chairman of the KBC and Dr Tan Chin Nam, Chairman of the MDA.
The MOU signifies the commitment of both parties to co-operate under the Korea-Singapore Free Trade Agreement (KSFTA), for which substantial negotiations have been concluded and will be inked later this year. In addition to liberalising trade and investment, the KSFTA will lead to a host of benefits, such as co-operation in sectors like broadcasting.
The first MOU between the two countries to cover the field of broadcasting, the co-operation will allow the KBC and the MDA to:
• exchange information on broadcast policies;
• co-produce television programmes;
• train broadcast personnel;
• facilitate co-operation among industry players in the areas of television programmes, digital media, research and the development of cutting-edge broadcast technologies;
• market each other’s programmes globally through platforms such as Singapore's Asia Media Festival and Korea's Broadcast World Wide;and
• encourage re-transmission of Korean television channels in Singapore and vice versa.
Dr Tan Chin Nam, Chairman of the MDA said, “Under the KSFTA, which will be signed later this year, the MDA will work closely with Korea to establish more MOUs covering the different media sectors to strengthen the relationship between, as well as harness the potential offered by our media industries. For a start, the MOU to be signed today will pave the way for co-operation between Singaporean broadcasters and their Korean counterparts.
“Korea has certainly made its mark in the area of television content production and mobile broadcasting services and technologies. The country is also fast becoming a leading centre for gaming, digital and information technologies. The Singapore media industry can certainly ride on this cooperation to gain inroads into the Korean market”, Dr Tan added.
Dr Tan noted that Singapore had also won regional and international eyeballs with many of its homegrown products in the media industry. Though relatively young, Singapore thus offers a ready pool of talents for collaborative exchanges with countries like Korea. “As one of the key thrusts of Media 21, the MDA encourages cooperation between Singapore media companies and their foreign counterparts in the various sectors. The MOU in broadcasting could lead the way for future MOUs to be endorsed for filming, gaming and other media sectors.”
Singapore currently has co-production agreements with New Zealand, Canada and Japan. These have resulted in the completion of four bilateral television projects, for example Quiet Mind and Samurai-Behind the Blade. Singapore media companies have also co-produced content with foreign media companies, such as Rice Rhapsody and House of Harmony.
Dr Noh Sung Dai, Chairman of the KBC said, “Korea and Singapore have reached an agreement to provide a legal framework for co-operation in the field of broadcasting under the KSFTA, recognising the significance of broadcasting services in the digital economy.”
“Our interest in Singapore comes naturally. Singapore is in the heart of Asia, not only geographically but also economically. By any standard, Singapore is the hub of Asian broadcast market and has set an example by promoting bilateral co-operation through co-production of programmes. It is then easy to understand why KBC is signing an MOU with MDA“, said Dr Noh.
He added, “A wise one once said, ‘A well begun task is half done.’ The fact that we have signed the MOU has great implications. We must, however, go further and seek for fruitful outcomes in the fields of co-production of television programmes, education of human resources, sharing broadcasting technology, and creating a strategic alliance in the international forum.”
For further information, please contact:
Ms Yvonne Poh
Corporate &Marketing Communications