Expanding Territory, Taekjin Hyung Forms Joint Venture with CJ ENM (Comprehensive)

Kim Taek-jin, CEO of NCSoft

[Asia Economy Reporter Buaeri] Kim Taek-jin, CEO of NCSoft, is expanding beyond the gaming business by establishing a content joint venture following the financial joint venture.

On the 5th, NC announced that it signed a Memorandum of Understanding (MOU) with CJ ENM for business cooperation in the fields of content and digital platforms. The two companies plan to establish a joint venture within the year. They intend to combine NC's IT technology with CJ ENM's entertainment business know-how to develop various content businesses.

NC is expanding and utilizing its various IT technologies not only in games but also in diverse fields. Industry insiders interpret that NC will collaborate with CJ ENM on content for the fan platform 'Universe.' An industry official said, "It is possible to consider using CJ ENM's content on the Universe platform. Various alliances and collaborations are entirely feasible."

NC is preparing to launch 'Universe,' a platform where K-pop stars and fans communicate, early this year. NC plans to provide differentiated content by integrating its strengths such as artificial intelligence (AI) and motion capture technologies. For example, AI will learn Kang Daniel's voice to provide fans with morning calls at desired times, and a service allowing fans to have phone conversations will also be introduced. As of last month, Universe surpassed one million pre-registrations.

Kim Jeong-ha, head of NC's Entertainment Business Division, said, "Since the capabilities each company possesses are different, we expect to achieve meaningful results through synergy." Lee Seon, head of the Music Business Department at CJ ENM's Music Content Headquarters, stated, "By combining CJ ENM's content production and business capabilities with NC's IT platform-based business capabilities, we plan to lead the trends of the future entertainment industry."

Previously, in October last year, NC participated in establishing a joint venture for launching an 'AI simple investment securities company' with KB Securities and December & Company Asset Management. The three companies plan to create a new type of digital securities firm by integrating NC's AI technology, KB Securities' financial investment expertise, and December & Company's robo-advisor technology.