South Korea’s leading movie distributor, Showbox/Media Inc., has signed a three-year deal to produce up to six films with China’s Huayi Brothers Media Corp., the local company said Thursday.
Showbox, under the partnership deal signed Wednesday, will establish a Chinese unit, Showbox China, and use it to help fund and produce up to six feature films with the major Chinese film studio through 2018. Showbox didn’t disclose when the Chinese unit will be set up.
Huayi Brothers will be in charge of marketing and distribution of the co-produced films in China, according to the deal unveiled by Showbox.
Showbox hopes the deal will give it greater access to the key Asian market by utilizing Huayi Brothers’ production capacity and wide distribution network.
Huayi Brothers, one of the largest private entertainment groups in China, is involved in film and television productions, music, computer gaming and other businesses.
“We’re sure that this partnership deal will help build a positive image for the brand of Showbox in China and be a foundation for making profits in the future,” Yoo Jung-hoon, head of Showbox, said in a press release.
“We expect the deal will serve as a bridge to the global market,” he added. (Yonhap)
