Busan will become a marketplace for multimedia content including TV dramas and smartphone apps from around the world in May.

From May 10-12, the city hosts Busan Contents Market at BEXCO, a convention center in Haeundae, with more than 600 media companies and buyers from 47 countries participating, the organizing committee said. The committee expects to have companies signing deals worth $54 million this year, up from $48 million last year.

In its sixth year, the committee plans to open the market, which previously focused on businesses, to people interested in media content, offering the participants an unusual chance to experience various programs produced in and out of the country.

“We will turn this year’s market into a festival where not only businessmen and industry experts but also the people of Busan can learn about different types of multimedia and participate in various events,” said Koo Jong-sang, chairman of the executive committee of Busan Contents Market, in a telephone interview with The Korea Herald.

The country’s major TV stations and production companies are coming to Busan to showcase their new dramas and entertainment programs. Celebrities will also take part in the event to draw the attention of the investors coming to the annual marketplace and the public.

For students interested in content development and production, the committee plans to hold lectures on marketing strategies and program production in general. This year, the program will focus on the Korean Wave and its future, it said.

The highlight of the event will be “Busan Asia TV Contents Week” where industry people can exchange ideas on television content of the future. Industry experts on TV dramas and animation will hold a forum to discuss challenges and the future of the two industries.

To strengthen business networking, the committee will also host a series of events including a cruise party and a buyer/seller luncheon.

“The market will become a festival this year as we add more entertaining programs for people coming to Busan. Without having to travel to Cannes, France, Busan will become the center of Asia’s multimedia market where buyers and sellers can do business while enjoying the city, scenery and food,” Koo said.

By Cho Chung-un (christory@heraldcorp.com)