Corpus Korea 추진 Global OTT Company Hallyu Channel Operation Business

[Asia Economy Reporter Hyunseok Yoo] Corpus Korea, a company specializing in the overseas distribution of Hallyu content, which is scheduled to merge and list with DB Financial SPAC No.7, announced on the 25th that it is discussing detailed terms of a contract with a global OTT company regarding the operation of a Hallyu channel in the Japanese market.

Corpus Korea stated that once this contract is finalized, it will play a leading role in the overall operation of the global OTT company's Hallyu content channel in Japan, and plans to promote the operation of the global OTT company's Hallyu channel in Japan as a new business in addition to its existing distribution business.

CEO Oh Youngseop said, "The channel business area being promoted this time is significant in that it confirmed the capability to conduct other businesses beyond the distribution business with the global OTT company," adding, "We plan to promote the operation of the global OTT company's Hallyu channel in Japan as a new business, with independent programming rights and planning capabilities beyond the existing distribution business."

Meanwhile, Corpus is also accelerating its distribution business for K-webtoons and web novels. It has formed partnerships with domestic webtoon and web novel platform companies and plans to distribute in the Japanese market within the first quarter of next year. Additionally, it is expanding its scope through multiple projects in collaboration with other platform companies and major broadcasters in areas such as webtoons, web novels, web dramas, and OSMU (One Source Multi-Use).

Furthermore, the recently planned work by Corpus, "Dali and Gamjatang," has signed a joint drama production contract with Monster Union. This drama is likely to be scheduled for terrestrial broadcast, and casting contracts are expected to be finalized soon, accelerating the IP development business in earnest.

CEO Oh Youngseop said, "Corpus Korea can close out 2020 amid the spread of non-face-to-face culture due to the novel coronavirus (COVID-19) and the arrival of the fourth wave of Hallyu in Japan," adding, "Not satisfied with this, we will achieve greater growth as a true total content provider starting in 2021 by promoting new businesses such as the Hallyu channel business and IP development business, and expanding the distribution of K-content such as webtoons and web novels, leveraging the KOSDAQ listing within the year."

Meanwhile, Corpus Korea, established in 2005 as a company specializing in Hallyu content distribution, currently holds the number one market share in Hallyu content distribution in the Japanese market. Recently, with the approval of the SPAC merger listing with DB Financial SPAC No.7, the merged new shares are scheduled to be listed on KOSDAQ on the 28th of next month.