[Asia Economy Reporter Kang Nahum] Smilegate announced on the 23rd that it has signed an agreement to establish a joint venture (JV) called Smilegate Realize with Realize Pictures, the production company behind films such as "Along with the Gods" and "Masquerade".
According to the agreement, the two companies will develop video projects such as movies and dramas utilizing multi-content IPs. Focusing on acquiring new IPs, they plan to collaborate on video projects currently being developed by Realize Pictures, including "Along with the Gods" and "Omniscient Reader," maximizing synergy between the two companies to present these works to a wider global audience.
The newly established Smilegate Realize will go beyond one-off OSMU (one-source, multi-use) efforts and work on connecting multiple discovered IPs into a single universe. Additionally, through a transmedia strategy that crosses the boundaries of video formats, they will attempt to create a "video service" where viewers can continuously enjoy videos, games, and other content together.
The co-CEOs of Smilegate Realize will be Baek Minjeong, Executive Director of Smilegate Holdings, and Won Dongyeon, CEO of Realize Pictures.
Co-CEO Baek said, "I am very excited to work with Realize Pictures, which holds a unique position in the Korean film industry, to realize the big picture of the IP cultural business that Smilegate has dreamed of. I am confident that the combination of our two companies will lead to the best synergy effect and create powerful cultural content loved in the global market."
Co-CEO Won also said, "I will do my best to discover and spread competitive IP content not only in Korea but globally together with Smilegate."
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