CJ E&M, Korea’s culture industry giant, is taking a plunge into the global animation market, with its eyes set on children in other countries, particularly the more than 200 million in China.
In an event in Seoul on Thursday, the Seoul-based firm unveiled a plan to spend 15 billion won ($13.83 million) this year on developing new animated content.
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| Han Ji-soo, leader of CJ E&M’s newly launched animation business unit. |
“We expect a Korean Wave of animated content to be realized in the not-so-distant future and see high business potential there,” said Kim Sung-soo, the chief executive of CJ E&M, announcing the launch of the animation business unit. “Korean Wave” refers to the popularity of Korean culture and entertainment overseas, currently led by TV dramas and pop music.
The Seoul-based company, which is a big investor in music, films and stage musicals, spent nearly 8 billion won last year on several animated works. Its cable channel Tooniverse is dedicated to animated content.
CJ E&M is also a Korean partner of the U.S. animation powerhouse DreamWorks.
Now with a new unit created exclusively for the business, it plans to nearly double its investment to 15 billion won and aggressively seek out opportunities related to animation and character businesses, said Han Ji-soo, who will lead the unit.
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| The lead character of “Robot Train RT” (CJ E&M) |
On Thursday, the company also unveiled its first animated TV series, “Robot Train RT.”
It follows the adventures of a transformative robotic train named Key in a village of trains. The first episode will air on SBS on Feb. 26.
“We hope to contribute to the enhancement of the eco system of the local animation industry, so that Korean-made content can lead the world,” Han said.
By Lee Sun-young (milaya@heraldcorp.com)
