Korean entertainment companies sign $16.6 mil. in potential deals in London, Shanghai
Summary
Korean character and content companies lined up about $16.6 million in potential licensing deals at trade fairs in London and Shanghai this month. The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency ran Korea pavilions at Brand Licensing Europe and the China Licensing Expo. Thirty-five companies held 860 consultations with overseas buyers, discussing deals worth an estimated $33.62 million. Participating firms also signed 11 on-site contracts and memorandums of understanding.
Key Facts
- The 35 participating companies included HYBE, The Pinkfong Company and CJ ENM.
- At Brand Licensing Europe, 10 Korean companies held 405 meetings, and likely deals rose 113 percent from a year earlier to about $9.59 million.
- ROI Visual and Kvision signed licensing agency deals with overseas partners at the London fair.
- At the China Licensing Expo, 25 Korean firms held 455 meetings, up 43.5 percent from the previous year, and signed eight on-site agreements, twice the prior number.
- Sopp agreed with Retail Monster to make Comipang stationery in China, while OCON signed an exclusive master license agreement allowing a Chinese partner to sublicense its characters in that market.
The Korea pavilion during the Brand Licensing Europe event in London / Courtesy of Ministry of Culture, Sports and Tourism
Korean character and content companies lined up about $16.6 million in potential licensing deals at major trade fairs in London and Shanghai this month, the culture ministry said Friday.
The Ministry of Culture, Sports and Tourism and the state-run Korea Creative Content Agency (KOCCA) ran Korea pavilions at Brand Licensing Europe (BLE), held Oct. 6-8 in London, and at the China Licensing Expo (CLE), held Oct. 21-23 in Shanghai. At licensing fairs, companies that own characters, brands and other intellectual property (IP) sell the rights to put them on toys, stationery, clothing and other products.
A total of 35 Korean companies — including HYBE, the agency behind BTS, as well as The Pinkfong Company and CJ ENM — conducted 860 business consultations with overseas buyers, discussing deals valued at an estimated $33.62 million. Of that total, roughly $16.6 million is expected to result in binding contracts, according to the ministry. The participating firms also signed 11 on-site contracts and memorandums of understanding.
At BLE, Europe’s largest licensing show, 10 Korean companies held 405 meetings. The value of likely deals rose 113 percent from a year earlier to about $9.59 million. ROI Visual, creator of the children’s animation “Robocar Poli,” and Kvision, which owns the Esther Bunny character, signed licensing agency deals with overseas partners.
CLE is billed as Asia’s largest licensing fair and drew 629 exhibitors and about 100,000 visitors. There, 25 Korean firms held 455 meetings, up 43.5 percent from last year, and on-site agreements doubled to eight. Sopp signed a deal with Retail Monster to make stationery featuring its Comipang character in China. Animation studio OCON signed an exclusive master license agreement with a Chinese company, giving the partner the right to sublicense its characters in that market.
The ministry and KOCCA also ran a Korea pavilion at Licensing Expo in Las Vegas in May.
“Combining Korean content IP with diverse industries to create new added value is important for the sustained growth of the content industry,” said Choi Sung-hee, the ministry’s director general for content industry policy.
This article was published with the assistance of generative AI and edited by The Korea Times.
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