on October 24, 2012

SEOUL/SINGAPORE -- Senator Chris Dodd, Chairman and CEO of the Motion Picture Association of America (MPAA), speaking at the American Chamber of Commerce in Korea (AMCHAM Korea) today, said that both the U.S. and South Korean screen industries would benefit from the Free Trade Agreement between the two countries.

"The United States & South Korea: Cultural Exporters in a Post KORUS FTA World", presented to around one hundred representatives from the American business community in South Korea, Government officials, U.S. movie studio executives and film trade association representatives, was held at the Grand Hyatt Hotel in Seoul.

Introducing Senator Dodd, Amy Jackson, President of AMCHAM Korea said, "Senator Dodd's visit to Korea comes at a very opportune time. Korean movies are a key part of the growing popularity of the K-wave which is hitting the United States and other countries -- and it is clear that the enhanced cooperation between the U.S. and Korean movie industries, facilitated by MPAA, is working to the benefit of both countries."

Senator Dodd said that the KORUS FTA trade agreement was one of the most commercially significant free trade agreements in the world, serving to greatly benefit the economies of the United States and South Korea, and will provide an important foundation for the success of both film and television industries.

"This an exciting time for both the U.S. and Korean film industries as we find new ways to work closer together to deliver our products to audiences around the world," said Senator Dodd. "Our two vibrant, world class film and television industries not only work together to promote each other's economies - they also work to promote our respective cultures."

"And as our ability to communicate and work with peers around the world continues to improve, the ground is proving fertile for all filmmaking industries to work together and form partnerships that contribute to the rising number of co-productions."

"This is a trend that is only going to continue as we become even more of an international industry than we are today because everyone benefits from it. Filmmakers share their creative ideas and works with one another, governments develop closer economic and cultural ties, audiences have the opportunity to choose from a greater selection of film and television products, and technology developers have more ways of bringing content to audiences around the globe. The KORUS FTA can only work to strengthen these economic and cultural ties."

Senator Dodd also praised the recent release of a new report illustrating the significant economic contribution made by the film and television industries in South Korea saying that these industries drive innovation and productivity in a digital economy, providing not only long-term careers in such fields as 3D special effects, post production supervisors and cinematographers, but deliver a quality screen entertainment experience for audiences worldwide.

Launched on October 8 at the National Assembly Memorial Center in Seoul, the Economic Contribution of the Film and Television Industries in South Korea found that the film and television industry in South Korea directly contributed USD6.77 billion (7,549 billion Won) to the country's economy and directly supported 67,627 jobs in 2011. The industry also generated tax revenues of USD3.36 billion (3,752 billion Won).


Tags: MPAA, Chris Dodd


No comments were posted.

What do you think?
read all News »