ANALYSIS · K-FAST
KOBACO study, 15 industry interviews… global market of USD 16.5bn by 2029, Korea's domestic market at USD 48m by 2030
The Korea Broadcast Advertising Corporation (한국방송광고진흥공사, KOBACO) has published A Study on Promoting the K-FAST (Free Ad-supported Streaming TV) Ecosystem. Written by research fellow Kim Do-kyung (김도경) and Kwon O-ju (권오주) of Korea University's graduate school, the 123-page report covers the structure of the FAST ecosystem, the operator landscape and policy demand. The report states that its findings are the researchers' personal views and not the official position of the corporation.
What the report identifies as the object of policy is not the domestic free-video market but the overseas distribution route itself. Korea's FAST market revenue is forecast to move from USD 23m (approx. KRW 31bn) in 2024 to USD 48m (approx. KRW 65bn) in 2030 (Omdia, 2024). Pay TV penetration above 90% and entrenched bundled tariffs leave little cord-cutting pressure.