Value context and insight. lkm@koreatimes.co.kr
AMF Holdings joins new alliance to modernize Korea’s global tourism strategy
From left, Seoul Land CEO Shin Sang-cheol, Korea Foundation for International Cultural Exchange (KOFICE) President Park Chang-sik and AMF Holdings CEO Yang Eui-sik stand together after signing a memorandum of understanding at the AMF Global Training Center in Seoul, Monday. Courtesy of Asia Model Festival Organizing Committee
By Lee Kyung-min
In a bid to capitalize on the enduring global appetite for Korean soft power, three of the nation’s prominent cultural and commercial entities formalized a partnership Monday, aimed at expanding the country’s international tourism footprint.
A memorandum of understanding signed by the Korea Foundation for International Cultural Exchange (KOFICE), amusement park operator Seoul Land, and AMF Holdings, a prominent Korean cultural platform specializing in the fashion, beauty and modeling industries, aims to recast domestic cultural assets as potent drivers of global marketing.
The agreement points to a broader shift toward more tightly integrated public-private partnerships, as Seoul seeks to expand the reach of “hallyu,” or the Korean wave, beyond its traditional strongholds in music and television.
From left are Face of Nepal CEO Park Seong-gyu, Seoul Land CEO Shin Sang-cheol, Korea Foundation for International Cultural Exchange (KOFICE) President Park Chang-sik, AMF Holdings CEO Yang Eui-sik and ON1 Entertainment 4D Label CEO Lee Duck-hyun. They stand together after signing a memorandum of understanding at the AMF Global Training Center in Seoul, Monday. Courtesy of Asia Model Festival Organizing Committee
Under the terms of the agreement, the organizations will pool their resources: KOFICE’s extensive global diplomatic network, Seoul Land’s physical tourism infrastructure and AMF Holdings’ expertise in fashion and model-driven content planning. The collaboration is designed to produce immersive cultural events and "experiential programs" that specifically target foreign visitors, multicultural families and younger demographics.
"Public-private cooperation is essential to expand Korean culture globally," said Park Chang-sik, president of KOFICE, noting that the alliance is expected to yield "tangible projects" with international partner countries in the coming months.
The initiative arrives as Korea’s tourism sector seeks sustainable growth models that move beyond superficial sightseeing. Yang Eui-sik, CEO of AMF Holdings, emphasized that the goal is to "build a sustainable cultural business platform," rather than a series of one-off events.
By leveraging the operational scale of Seoul Land — a fixture of the domestic leisure industry — with the niche content planning of AMF, the trio aims to provide what Shin Sang-cheol, CEO of Seoul Land, described as "differentiated cultural experiences" for an increasingly discerning international audience.
In addition to the three company heads, the signing ceremony was attended by Nam Sang-hyun, head of the Corporate Strategy Division at KOFICE; Kim Yang-gyu, executive vice president of Seoul Land; Jeon Hyeong-jun; Jung Yoo-jong; Park Jong-chul, head of the legal team at AMF Holdings Inc.; Choi Jung-eun, an organizing committee member of AMFOC and chairman of the Korea Society of Model Contents; and Park Geun-jeong, head of the K-Model Acting Department at Daekyung University.
Special guests included Park Seong-gyu, chief executive of Face of Nepal, and Lee Duck-hyun, chief executive of ON1 Entertainment 4D Label.
This article was published with the assistance of generative AI and edited by The Korea Times.