Corporate Cultural Funding in Korea Falls to 196.9 Billion Won After Three Years
Creatrip Team
a month ago
The Korea Mecenat Association's 2025 survey found that corporate support for arts and culture in Korea totaled about 1969 billion won, a 7.4% decline after three years of growth. The survey covered 737 companies (including the top 500 by revenue and corporate cultural foundations). While the number of supporting companies (728) and projects (2392) rose, total funding fell mainly because infrastructure (e.g., performance venues) support dropped by 7.9% and the visual arts/exhibitions sector decreased by 27.7%, partly due to reduced activity from retail companies. Funding also declined for classical music (-4.8%) and arts education (-9.8%) as long-running corporate projects ended. Conversely, support increased in creative musicals (85.2%), theatre (27%), video/media (20.2%), and alternative/multi-disciplinary arts (11%), though these areas remain small in overall value. Among individual companies, Hyundai Department Store became the top corporate supporter, backing museums and cultural spaces like ALT.1 Museum and Gallery H; among foundations, Samsung Foundation of Culture remained first, operating major institutions such as the Leeum and Hoam Museums and the cultural complex Sounds S. The Korea Mecenat Association urged stronger policy incentives (e.g., tax credits) to encourage renewed corporate sponsorship amid economic uncertainty.
