CJ ENM vows to invest W1tr in content, maximize cross-platform synergy

BUSAN -- South Korean entertainment conglomerate CJ EJM said it would continue to invest 1 trillion won in content production and operation, its CEO Yoon Sang-hyun said Friday at the CJ Movie Forum held on the sidelines of the 29th Busan International Film Festival.

“Despite the growing uncertainty in the film industry, we will continue to support creators and enable their imaginations to come to life and shine bright,” Yoon said.

Yoon stressed that such investment will support its strategy to bolster the local film industry by utilizing its insights accumulated through global studios, theaters, and streaming platforms.

CJ ENM currently operates various subsidiaries such as multiplex cinema operator CJ CGV, production firm Studio Dragon and streaming platform Tving.

The firms will create synergy and solidify a proactive distribution system to establish a sustainable global business structure, Yoon said.

The company's priority will be on securing rising creators and actors.

“The studio aims to increase projects that involve rising creators and actors, providing opportunities to refresh the K-drama industry,” said Studio Dragon CEO Jang Kyung-ik who also represented at the forum,

Agreeing that theaters, streaming platforms and broadcasting channels coexist and should cooperate to maximize the IP lifecycle, CJ ENM gave an example of the upcoming tVN drama “Dongjae, the Good or the Bastard,” produced by Studio Dragon, released and broadcast by Tving and tvN. The drama premiered at BIFF.

The 29th BIFF runs through Oct. 11.