Twelve South Korean television industry associations warned on Wednesday of the risk of collapse facing the production of South Korean series and soap operas, known as K-dramas, despite their global popularity, and demanded greater public investment.

"The production base for K-dramas is on the brink of collapse," stated a joint press release issued by associations representing production companies, screenwriters, actors, directors, networks, and technicians.

According to data compiled by the Korea Drama Production Association, one of the twelve organizations endorsing the joint statement, domestic production dropped by nearly 30 percent between 2022 and 2024. The release also highlights that the three main free-to-air television networks reduced their offerings from 91 in 2012 to 32 in 2023.

The organizations attributed the decline to soaring filming costs driven by competition from international streaming platforms, reduced broadcast investment, and the difficulties faced by production companies in retaining intellectual property rights and securing backend revenue.

They called for establishing a national goal to restore annual production volume and urged the government to study a medium- to long-term funding mechanism of 1 trillion won ("744 million dollars").

The associations also criticized planned budget cuts for 2027, including 4.5 billion won ("3.35 million dollars") in audiovisual allocations from the Ministry of Culture and 4.4 billion won ("3.27 million dollars") in broadcast promotion funding from the industry regulator.

The joint statement comes after the Korea Creative Content Agency (KOCCA) estimated in April that audiovisual revenue declined by 1.3 percent year-over-year to 24.66 trillion won ("18.34 billion dollars") in 2025, following a documented 4.4 percent drop in revenue for independent production companies in 2024.

The associations proposed that the government act as a catalyst for new investment to restore a healthy cycle of funding, production, distribution, and revenue recovery in collaboration with television networks and digital platforms.

South Korean series and soap operas have enjoyed widespread global popularity, driven by international hits such as "Queen of Tears" (2024) and "Crash Landing on You" (2019).