Hong Kong and South Korea sign creative pact
Hong Kong and South Korea have agreed in writing to a memorandum of understanding to increase the amount of creative co-operation between the two countries. The key element in the agreement is the potential increase in Film and TV co-productions.
Regarding the agreement Kim said: "The creative industry is central to providing job opportunities and promoting a creative economy amid Korea's efforts to make economic innovations," said Kim. "I believe Korea and Hong Kong can together pave the way for future growth."
The pact provides a set structure in order for both countries to work together with fewer obstacles. Though Hong Kong is not able to sign treaties as it is not a sovereign power, and still belongs to China, it can however sign trade agreements in which this memorandum of understanding falls under.
Korea and Hong Kong’s film exchanges date to 1953, with their first co-produced film, Love With an Alien, having been made in 1953. 2002 film Three was also a popular co-production between the two countries, with it getting a sequel and winning awards at the Hong Kong and Golden Horse film festivals.