Vietnam and South Korea have signed a pact this week to jointly produce TV programs and see them as local products in each country, with a view to exporting them to other nations.
The Vietnamese and South Korean governments inked such a deal in Hanoi on Tuesday.
Vietnamese Minister of Information and Communications Nguyen Manh Hung and Chairman of the Korea Communications Commission Hyo Seong Lee signed the pact on joint TV program production, with the participation of many representatives from the two countries’ TV stations.
Vietnamese and South Korean TV program producers will get approval for their joint programs within 50 days from their registration at relevant agencies in each country, according to the agreement.
Such agencies are required to give a written explanation when they turn down any registration.
The broadcasting of such programs will have to follow local rules and regulations.
Each of the producers will contribute at least 10 percent of the finance and content of the programs, with their production teams consisting of Vietnamese and South Korean staff.
The two nations will allow entry to their each other’s citizens who can stay to produce and promote their joint TV programs.
The agreement also stipulates that Vietnam and South Korea will grant import tax exemption to equipment brought in for joint TV program production.
The governments of both countries will provide funds for such programs and recognize them as local products.
The joint producers will decide on their copyright and how to share revenue.
This agreement signature is a step forward in the cooperation between Vietnam and South Korea in information and communications, Minister Hung said.
The Vietnamese official advised that a team be put together to promote this pact and work out annual action plans for specific activities.
Chairman Hyo concurred with Minister Hung, this is a basis and an opportunity for deepening the two countries’ ties.
“Such TV programs would be able to be exported to other countries, for example those in Central Asia or South America,” he said.