The Ministry of Culture, Sports and Tourism announced on the 6th that Minister Yoon In-choon appointed six new non-standing Commissioners to the Film Promotion Committee (Korea Film Council). Among them, attention is drawn to Lee Hyun-song, CEO of Smart Study Ventures, from the venture industry.
Looking at the newly appointed Commissioners, notable names include Director Lee Jung-hyang, recognized for both commercial success and artistic quality with films such as 'The Zoo Next Door' (1998) and 'Homeward...' (2002), along with Chairperson Kang Nae-young of the Busan Film Commission, Hanyang University Theater and Film Professor Gil Jong-chul, Chung-Ang University Graduate School of Arts Professor Jo Hye-jeong, and Kim Jeong-ki, Director of Shin Jeong Accounting Corporation. The term for the new Commissioners is three years, until Jan. 3, 2028, and they must attend committee meetings once a month.
Established in 2019, Smart Study Ventures is the corporate venture capital (CVC) of The Pinkfong Company, famous for 'Baby Shark' (formerly Smart Study). CEO Lee is a veteran content specialist who has worked at Lotte Entertainment, Sansu Ventures, and SV Investment, having experience not only in equity investments but also in significant dramas and films such as 'Ode to My Father' and 'Miss Granny,' making them well-suited to inject new perspectives into the film industry.
Since joining The Pinkfong Company as Chief Investment Officer (CIO) in June 2019, CEO Lee has led the establishment of Smart Study Ventures. The company focuses its investments on startups in the content, entertainment, and technology sectors, seeking synergies with its parent company, The Pinkfong Company. It has invested in Bound Entertainment, a film and drama production company; Soy Media, which produces webtoons and animations; Bulswork, an operator of new media content channels targeting the MZ generation (born in the 1980s to early 2000s); and Almond Company, a fandom content platform.
Last year, it was selected as a general partner (GP) for the cultural account of the fund of funds, and based on this, it successfully established a cultural export fund sized at 38.5 billion won. Investments are made primarily in cultural content corporations where overseas sales account for more than 20% of total revenue.
In a conversation with CHOSUNBIZ, CEO Lee noted, 'I understand that there was a need for someone who can talk about the promotion, development, and support of Korean cinema not only from within the film industry but also from different perspectives.'
The Ministry of Culture, Sports and Tourism explained, 'We appointed the new Commissioner after considering various factors, such as expertise and insight in film arts and the film industry, experience in academia and the field, and a balanced consideration of gender and age, through candidate recommendations from film-related organizations.'