Executives from CJ ENM, Korea’s largest media and entertainment conglomerate, Friday committed to investing upwards of KRW1 trillion ($750 million) per year in content.
“We continue to believe in K-content,” said group CEO Yoon Sang-hyun at an event hosted on the sidelines of the Busan International Film Festival. “By retaining our investment in content at KRW1 billion, and using our insight accumulated through global studios, theaters and OTT platforms , CJ ENM will dedicate itself to improving the film industry figures.”
Yoon and other executives from the group tried to sound optimistic about the long-term future of the business, while acknowledging severe near term headwinds.
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