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Picture of Ko Min-su, Standing Commissioner of the Korea Media and Communications (provided by Yonhap News)

Korea and Canada have officially signed a co-production agreement covering audiovisual content, including drama series and feature films. The agreement, signed on April 22 by Ko Min-su, Standing Commissioner of the Korea Media and Communications Commission (KMCC), at the Department of Canadian Heritage, marks the culmination of negotiations that began in 2017 — nearly eight years in the making.

At the heart of the agreement is a mutual recognition clause: co-productions developed under its framework will qualify as domestic content in both countries. Canada requires broadcasters to meet minimum quotas of Canadian content in their schedules; under this agreement, qualifying co-productions will count toward that threshold, significantly improving their access to Canadian broadcast slots. Additional provisions include facilitated movement of cast, crew, and equipment across borders, and the ability to simultaneously apply for government support programs in both countries.

Of particular note is access to the Canada Media Fund (CMF), a public funding body supporting the production of broadcast and digital content. Operating at approximately CA$390 million (roughly KRW 400 billion) annually, the CMF allocates around 84% of its budget to broadcast programming. Feature film projects, meanwhile, may pursue separate support through Telefilm Canada, the federal agency dedicated to film financing. For Korean producers, the ability to apply concurrently to both Korean and Canadian funding programs creates a meaningful pathway to reducing production costs.

The agreement represents a new institutional option for Korean content entering the North American market at a time of intensifying global OTT competition. That said, the signing alone will not immediately translate into active co-productions. Real outcomes will depend on Korean producers' ability to identify suitable Canadian partners and develop projects aligned with local production conditions and regulatory frameworks. With the structural foundation now in place, the industry's next challenge will be converting this institutional groundwork into concrete production and investment partnerships.

Sources

• Yonhap News Agency, "Korea-Canada Content Co-Production to Move Forward in Earnest… Momentum for North American Entry," 2026.04.24