The new division will carry out a range of business functions. It will develop, produce and distribute content, while operating the licensing and character production business, as well. Its licensing partnership with DreamWorks is also expected to create synergy with companies in Korea.
CJ E&M plans to invest $15 million (U.S.) this year alone to develop new animation content.
In the first half of this year, the division will also set up a team dedicated to developing business in China, where the government has recently eased its decades-long family planning policy.
“With aggressive investment and tactful marketing, we are putting forth our best efforts to produce a variety of high-quality animations in order to lead the global market and give a boost to the local animation market as well,” says Ji-Soo Han, head, animation, CJ E&M.
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