Speaker: Yoo In-Taek (President, Seoul Arts Center)
Title: New Approach to Funding for Arts Organizations
Date: June 21, 2019
Location: NCPA, China
Selected speech
When I joined the Seoul Arts Center as President back in March, I set an ambitious target to raise the government grants to the maximum of 50%. Many of you might have already noticed the point. More government grants mean less pressure to defend profitability and more leeway to host extraordinary pieces of performing art works. We can also present great opera and classic concerts more actively by leveraging culture and arts funds to attract more investment. This will help creating more jobs for artists and staff and enable high-quality performance production. As more audience is satisfied and such performances make a huge success, producers may be able to pay back a part of revenue to investors. It is a creative way of funding for arts centres and a virtuous circle of performance production.
