SOUTH KOREA (Republic of Korea)

Official text of the Canada-Korea Memorandum (22 K)
Memorandum of Understanding

Signed April 25, 1995

Please take note that this summary is simply a reference tool and that you must comply with the complete terms of the applicable treaty(ies) (see link above) and with Telefilm Canada’s Audiovisual Coproduction guidelines

MEDIA
Television.

MINIMUM PARTICIPATION
Bipartite: 30% – Article III (1) & (2)
Multipartite: 20% – Article VI (1), (2) & (3)

Article III (1) & (2)

  • The proportion of the respective contributions of the co-producers of the two countries may vary from 30% (thirty per cent [minority]) to 70% (seventy per cent [majority]) of the budget for each co-production.
  • Each co-producer will be required to make an effective technical and creative contribution. In principle, this contribution will be in proportion to one’s investment.

Article VI (1), (2) & (3)

  • The competent authorities of both Parties will look favourably upon co-productions undertaken by producers of Canada, Korea and any country to which Canada or Korea is linked by an official Co-Production Agreement or Memorandum of Understanding.
  • The proportion of any minority contribution in any multi-party co-production will be not less than 20% (twenty per cent).
  • Each minority co-producer in such co-production will be obliged to make an effective technical and creative contribution.

SHOOTING AND PERFORMERS
Article V (1) & (2)

  • Live action shooting and animation works such as storyboards, layout, key animation, in between and voice recording will, in principle, be carried out alternately in Canada and in Korea.
  • Location shooting, exterior or interior, in a country not participating in the coproduction may, however, be authorized, if the script or the action so requires and if technicians from Canada and Korea take part in the shooting.

Article IV (2)

  • Should the co-production so require, the participation of performers other than those provided for in the first paragraph may be permitted, subject to approval by the competent authorities of both Parties.

LAB WORK
Article V (3)

  • The laboratory work will be done in either Canada or Korea, unless it is technically impossible to do so, in which case the laboratory work in a country not participating in the co-production may be authorized by the competent authorities of both Parties.

VERSIONING
Article VII (2)

  • The dubbing or subtitling of each co-production into French and English, or into Korean will be carried out respectively in Canada or Korea.  Any departures from this principle must be approved by the competent authorities of both Parties.

COPRODUCTION AGREEMENT (ANNEX – RULES OF PROCEDURE)
In accordance with the Memorandum of Understanding between the Government of Canada and the Government of The Republic of Korea on Television Co-production, the coproduction agreement should include:
1.       the title of the co-production;
2.       the name of the author of the script, or that of the adaptor if it is drawn from a literary source;
3.       the name of the director (a substitution clause is permitted to provide for his replacement if necessary);
4.       the budget;
5.       the financing plan;
6.       a clause establishing the sharing of revenues, markets, media or a combination of these;
7.       a clause establishing the respective shares of the co-producers in any over or under expenditure, which shares will in principle be proportional to their respective contributions, although the minority co-producer’s share in any over expenditure may be limited to a lower percentage or to a fixed amount providing that the minimum proportion permitted under Article VI of the Memorandum of Understanding is respected;
8.       a clause recognizing that admission to benefits under this Memorandum of Understanding does not constitute a commitment that governmental authorities in either country will grant a license  to permit public exhibition of the co-production;
9.       a clause prescribing the measures to be taken where:

  • after full consideration of the case, the competent authorities in either country refuse to grant the benefits applied for;
  • the competent authorities prohibit the exhibition of the co-production in either country or its export to a third country;
  • either co-producer fails to fulfill its commitments;

10.     the period when shooting is to begin;
11.     a clause stipulating that the majority co-producer will take out an insurance policy covering at least “all production risks” and “all original material production risks”;
12.     a clause providing for the sharing of the ownership of copyright on a basis which is proportionate to the respective contributions of the co-producers.

IMPORTANT: please also consult List of essential elements required in an audiovisual coproduction agreement