An international broadcasting co-production agreement can complement the deficiencies of private contracts while allowing a co-produced audio-visual work to have access to markets of partner countries

Further, it takes a form of an international agreement between governments which aims at granting official benefits such as recognizing them as domestic programs to co-production programs

This type of broadcasting co-production is distinct from work of the private sector through contracts between private parties in that it is based on an official agreement between governments

According to the general practice of international law, content stipulated in the international co-production agreement takes precedence over national law

Unlike co-production between the private parties, co-production made under an international co-production agreement is entitled to various official benefits such as being recognized as a domestic program, government subsidies, tax exemption, facilitation of temporary entry, and tariff-free importation of equipment

Especially in countries where market access to the content market is difficult due to regulatory barriers, the agreement can provide a way to circumvent regulations such as import quota for foreign content and limitations on programming quota by recognizing co-production programs as domestic programs. Also, a inter-governmental consultative body can be established pursuant to the agreement to settle disputes

As of November 2021, Korea has signed television program/audiovisual co-production agreement with nine countries/regional communities (EFTA, Singapore, Cambodia, EU, Australia, New Zealand, India, Vietnam, and UK)