[The Era of Collaboration 1] K-Dramas That Cross Borders... Will Co-productions Become a New Survival Strategy?

Sharing production costs and targeting local markets... Collaboration beyond Korea-Japan to Korea-ThailandFrom unit-by-unit cooperation to joint ventures... Securing IP leadership is a challengeAs Korean-Japanese co-produced dramas like Disney+'s 'Marry My Love' and Channel A's 'Kidnap Game' find their way into the global broadcasting industry, collaborations with various countries beyond Japan are underway in Korea. / Posters of each programAs K-drama production costs rise and the investment environment of global OTTs changes, domestic production companies are seeking new production methods. One of these is 'global co-production,' which involves collaborating with overseas production companies and platforms. Cases of sharing production costs with various countries such as Japan, the US, and Thailand, and jointly pursuing entry into local markets, are continuing. Amidst the changing K-drama production environment, we examine the current state of global co-production, the concerns on the ground, and the challenges ahead. [THE FACT|Reporter Kim Saet-byeol] The K-drama production environment is changing. As production costs increase and the investment environment of global online video services (OTTs) also changes, cases of domestic production companies joining hands with overseas partners to develop content are increasing. This is a move to share production costs while securing local markets and distribution networks.Global co-production goes beyond simply attracting foreign capital. It is a strategy to enhance content competitiveness by combining the production capabilities, intellectual property (IP), and distribution networks of each country. While Korean-Japanese co-produced dramas are achieving global success and Korean-Thai co-produced short-form content is being produced, joint ventures that combine the planning, production, and distribution capabilities of both countries have also emerged. The scope of collaboration is expanding across the entire industrial structure, beyond individual works.The recently released Korean-Japanese co-produced drama 'Marry My Love' is a representative example of this trend. 'Marry My Love,' co-produced by CJ ENM and Japan's NTV, is a romantic comedy starring Korean actor Ji Chang-wook and Japanese actress Imada Mio. It is an original work planned in Korea, with participation from production staff from both countries, focusing on locations in Japan.The work immediately showed results in global viewership metrics. According to FlixPatrol, an OTT content viewership ranking site, 'Marry My Love' reached the world's second-highest position in the Disney+ TV Shows category after its release on the 7th of last month, and entered the TOP10 in 72 countries and regions worldwide.Korean-Japanese collaboration also manifests in different production structures for each work. The drama 'Kidnap Game,' which premiered simultaneously on Channel A and Japan's Fuji TV on the 6th of last month, featured the meeting of Korean actor Lee Joongi and Japanese actor Sakaguchi Kentaro. In addition, Taiwanese actor G Taipei, famous in Chinese-speaking regions, and Japanese actor Kasamatsu Sho, who has filmed several works in Korea, are also appearing in large numbers.Channel A, Japan's Fuji TV, Korean production company Sim Story, and Hong Kong's MakerVille participated in this project, with Japanese director Yusuke Kato at the helm. It is a collaborative model involving production entities from multiple countries, going beyond the combination of Korean and Japanese actors.The scope of collaboration is not limited to large-scale dramas. In the short-form content market as well, Korean and Thai production teams are joining hands to present works targeting global viewers.'Devil's Kiss' and 'Communal Zone Romance,' produced by Plus X ENM, are global short-form dramas created jointly by Korean and Thai production teams. Both works feature Thai actor Kongthap Peak, as well as actors from both countries, showcasing cases of Korean production companies collaborating with overseas production staff and actors.The wave of global co-produced content is not only in large dramas or works with significant investment but also in the short-form content market. Furthermore, a Korean-Mongolian co-produced film is scheduled for release on the 25th. /Kairos MakersA Korean-Mongolian co-produced film is also preparing to meet audiences on the 25th. 'Snowy Summer, For You,' starring Korean actor Jeong Jinwoon and Mongolian actor Chelmek, is a co-production between Korean production company Kairos Makers and Mongolian production company Nomadia Pictures.Co-production is moving beyond one-off projects like individual work collaborations towards establishing a long-term business foundation.In fact, CJ ENM established the joint venture Studio MonoWa in April with Japan's TBS and U-NEXT Holdings. The three companies plan to pursue global content business by combining Korea's content planning and production capabilities, Japan's original IP discovery and commercialization capabilities, and local platform distribution networks.In particular, Studio MonoWa aims for a business structure that connects everything from planning and development to production, distribution, and IP expansion. The goal is to build a revenue model that extends beyond co-producing a single work to include original IP discovery, investment, drama production, and secondary copyrights and ancillary businesses.Additionally, in the US, CJ ENM is collaborating with global studio Fifth Season. The two parties are reportedly developing more than 10 joint projects, including films and dramas that incorporate Korean themes. This is interpreted as a strategy to secure competitiveness in overseas markets by combining the planning capabilities of Korean content with global production and distribution networks.A CJ ENM official stated, "The multi-studio system established in Korea, the US, and Japan, combined with the creative capabilities of each market, is leading to globally successful works," adding, "We will continue to present premium content and nurture them into mega IPs."As such, global co-production is expanding in various forms, transcending countries, genres, and production scales. The scope of collaboration is widening, from making works with overseas production companies to projects that cast local actors and production staff, and long-term businesses through joint ventures.However, co-production does not immediately guarantee cost reduction or box office success. Ultimately, the success or failure of global co-production depends not on how many overseas partners are involved, but on what competitiveness is secured through collaboration and how this is linked to sustainable profits.Attention is focused on whether cross-border cooperation can become a new growth platform for K-dramas. sstar1204@tf.co.kr[Entertainment Department | ssent@tf.co.kr]