CJ ENM (035760.KS) held a signing ceremony to establish the joint venture Studio Monowa with Japan's TBS and U-NEXT Holdings at the CJ ENM Center in Sangam-dong, Seoul, on Nov. 30, the company said Wednesday.
Studio Monowa is a joint venture that brings together top-tier planning, production, and platform capabilities from both Korea and Japan to build a content value chain spanning planning and development, production, distribution, and intellectual property (IP) expansion.
The establishment of the joint venture stems from CJ Group Chairman Lee Jae-hyun's visit to Japan in April last year, when he met directly with executives of major content and media companies to explore possibilities for cooperation. As related discussions gradually took shape and led to the establishment of this JV, the move is regarded as a case in which field-centered global management translated into tangible business results.
"Through cooperation between the top content companies representing Korea and Japan, we will present hit content targeting not just Asia but the global market," CJ ENM CEO Yoon Sang-hyun said. "We will leap forward as a global premium IP provider through an innovative partnership that combines the systematic planning capabilities of K-content with global production know-how from the IP planning stage."
