Aside from the KFPA, the inaugural members are the Seoul Theater Association, Korea Association of Film Art & Industry (KAFAI), Korea Association of Game Industry (KAOGI), Korean Modeling & Talent Association (KMTA), Corea Drama Production Association (CODA), Korea Musical Theatre Association, Corea Entertainment Association, the Music Industry Association of Korea and the Korea Institute For Personality Rights.
Heads of the member organisations signed a declaration to co-operate to share information, discuss ways for development, create consensus, and furthermore influence policy, law-making and enforcement - particularly in relation to copyright theft.
The move comes at a time when the Korean film industry in particular has been crying crisis and recession, with producers blaming piracy and ballooning budgets as the prime reasons.
The federation's plans include campaigning nationally against piracy and forming a think-tank for the 'stabilisation of industry structures based on creativity'.
It also plans to run co-operative policy committees with governmental organisations such as the Ministry of Culture, Sports and Tourism, the Korea Culture & Content Agency (KOCCA), the Broadcasting and Communications Commission, and the Korean Film Council (KOFIC), while urging the government to expend more on support for cultural industries.
Notably, SidusFNH co-CEO Tcha Seung-jai (Radio Days) heads KFPA, while KAFAI is headed by Cine2000 CEO and producer Lee Chun-yeon (Hwang Jin Yi), and iHQ CEO Teddy Jung Hoon-tack heads the Corea Entertainment Association, a talent management organisation.
The KFPA has also recently filed suit against eight major P2P servers that allow illegal downloading, with a verdict pending.