Gerald Lidstone, director of the Institute of Creative and Cultural Entrepreneurship at Goldsmith University in London, highlighted two difficulties encountered by Hong Kong arts institutions in realization of cultural projects exchange projects, the first is financing. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Since financial burden is a big concern when organizing arts events, financing is always the main issue for organizers. In Hong Kong, an arts institution can turn to companies and charitable foundations for sponsorship, and government funding is also available for artist applications. "The problem with any government funding of cultural institutions, especially state funding, is that "the art must match the viewing facilities of their sponsors......they may lose their intrinsic motivations to stage others pieces and art forms.” Many cultural exchange projects are limited by the rigid direction set by the funding proposal, which undermines their potential for creativity and flexibility. There is often concern that artists will lose motivation to engage in other art forms to obtain government funding, as this would have the reversed purpose and outcome. However it presents a picture of how difficult it is to obtain government funding and this is the main focus of the research. To facilitate cultural exchange with other countries, the Korean government has implemented various funding for artists to develop the arts sector. “After the Asian financial crisis, President Kim Dae-jung created a special fund to create the Cultural Content Bureau… it is now the “core” of Korea's soft power strategy.” a tool of soft power, the Korea government is committed to promoting the art industry in the world with more direct funding. Artists can apply for funding when organizing artistic events. For example, the Art Council Korea (ARKO) is the largest funding agency governed by council members appointed by the Ministry of Culture, Sports and Tourism in Korea. It accepts requests for funding for the holding of artistic events and supports the financial needs of artists, which makes it a very important variable in the organization of events. According to the case studies conducted in my research, artists apply for different types of funding depending on their art forms and receive funding from different organizations in the funding body of the arts-related department of the government or sometimes even from the private sector. However, the problem arises when the application often creates problems for applicants with complicated procedures. First, I have to submit a lot of paperwork and supporting documents, which is difficult for small art companies. Secondly, time is needed not only to submit the application, but also to confirm successful applications and transfer funding. Due to different arts and cultural policies in different countries, some administrative processes are necessary when applying for funding for cross-border arts events. It slows down the progress in confirming the selected candidates, and therefore it still takes time to move to the other country, which often creates other related problems. Another problem caused by the slow and complicated process of applying for finance would be the frequent failures in booking the venue. . The lack of spaces for performances and.