At the KT Gwanghwamun Building in Seoul on the morning of the 21st, Kyung-rim Yoon (right), president of KT Group’s Transformation Division, and Ho-seong Kang, CEO of CJ ENM are taking a commemorative photo after signing a strategic partnership for content business cooperation. yunhap news
CJ ENM joined hands with KT to strengthen content competitiveness.
CJ ENM announced on the 21st that it had signed a memorandum of understanding (MOU) with KT for content business cooperation at KT Gwanghwamun Building in Jongno-gu, Seoul.
The two companies agreed to cooperate in various areas such as drama production, music, and realistic media, starting with CJ ENM’s 100 billion won equity investment in KT Studio Genie.
Through this investment, CJ ENM will gain the right to preferentially secure the majority of content produced by Studio Genie, and Studio Genie will secure distribution networks such as TV channels and online video service (OTT) TVing owned by CJ ENM. The two sides also plan to jointly promote content planning and production.
CJ ENM and KT are also promoting cooperation in the music business, creation of a joint fund for immersive media business, and the formation of a business cooperation committee for joint projects in the content field.
Kang Ho-seong, CEO of CJ ENM, said, “Cooperation with KT, a leading media platform company, will be a great help in moving forward as a global total entertainment company.
Reporter Jang Gu-seul jang.guseul@joongang.co.kr
