VFX Specialist Company Westworld
Interview with CEO Son Seung-hyun
Providing Comprehensive Tech Solutions from Scenario Development Stage
35x Revenue Growth Over 3 Years
"Opportunities to Showcase Capabilities on Platforms like Netflix"
[Asia Economy Reporter Cha Min-young] The Korean version of creature horror that drew attention last year, Netflix’s Sweet Home, features dozens of types of monsters such as eyeball monsters, muscle monsters, blind monsters, and tentacle monsters. Sweet Home ranked first in 11 countries worldwide on Netflix and was also nominated for the Arts Award at this year’s Baeksang Arts Awards. Westworld, a visual effects (VFX) specialist company known as the “father of monsters,” is also on a growth trajectory, doubling its sales compared to the previous year.
Aiming to Be a ‘Comprehensive Solution Studio’
Son Seung-hyun, CEO of Westworld, said in an interview with Asia Economy on the 16th, “In the past, VFX only handled some tasks such as computer graphics (CG) and post-production editing,” adding, “From the beginning, I wanted to grow the company into one that creates visuals together from the scenario development stage.” Westworld’s starting point and goal is to be a studio that proactively provides comprehensive technical solutions like a production designer.
Son, a leading domestic visual effects director with 20 years of experience, started Westworld in October 2018 with two partners. The team, which initially had three members in 2018, has now grown to 160. The core consists of nine VFX supervisors who take responsibility for projects under their own names. The company is expanding by hiring editors and writers in addition to pre-production, on-site directors, and post-production groups.
One distinguishing feature is providing consulting services as part of the pre-production process. CEO Son explained, “Turning the director’s vision into reality is a technical area, so we offer pre-consulting,” adding, “We provide data necessary for the director and production PD to coordinate in advance, such as cost calculations and estimated production periods.” Beyond Evil, set in space, is a representative example. Without pre-visualization, unnecessary production costs may be incurred.
Through specialized R&D personnel, Westworld also offers customized solutions for the field. For example, during the filming of Sweet Home, virtual production technology was used so that the cinematographer could shoot while looking at the monsters as if they were actually on set. Previously, monsters were composited in post-production, but this technology allowed monsters to be seen as characters from the start. This technology, previously only available in Hollywood, was attempted for the first time in Korea. Especially in Sweet Home, where bulky monsters appear in various forms, this enabled realistic shooting in terms of camera work and composition.
35-Fold Sales Growth Over Three Years
Last year, there was a strong sense of crisis as the release of blockbuster films was delayed due to COVID-19, but an unexpected boom in content production in the online video service (OTT) market brought a windfall. CEO Son said, “First, platforms like Netflix provided production opportunities, creating a stage to showcase our capabilities like in Sweet Home,” adding, “As overall budgets increase and consumer standards rise, there needs to be more consideration on how to utilize pre-production.”
Sales have doubled every year. In its first year of operation in 2018, sales were just over 400 million KRW, but surged to about 5.8 billion KRW in 2019 and jumped to 14 billion KRW in 2020. This means sales grew 35 times over three years. Net profit also steadily increased from 100 million KRW to 1.2 billion KRW and then 1.9 billion KRW. A significant portion of sales was reinvested to expand the company’s office from one floor to three floors.
This year marks a major change for both CEO Son and the company. While Westworld has so far provided integrated solutions as a VFX specialist, it plans to enhance its in-house production capabilities this year. He said, “This year, we will also venture into drama production,” adding, “We are hiring writers and planning the next project, striving to seize more opportunities.” CEO Son added, “I believe the CEO’s role is to create an environment where company artists can focus solely on their work without worrying about their livelihood,” and “We will also positively consider an initial public offering (IPO).”
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