WYSIWYG Studio-NP Invests in Shares of Comprehensive Content Space Business ‘YN Culture & Space’

[Asia Economy Reporter Yoo Hyun-seok] WYSIWYG Studio (hereinafter WYSIWYG) and its subsidiary NP are developing a multipurpose studio in collaboration with YG Entertainment and Naver's joint venture YN CULTURE & SPACE (hereinafter YNC&S) to establish a foundation for next-generation content production.

On the 29th, WYSIWYG announced that it plans to invest a total of 10 billion KRW in YNC&S together with its subsidiary NP. WYSIWYG and NP will each contribute 5 billion KRW through a capital call method, having already paid 1.1 billion KRW each on the 26th.

YNC&S is a joint venture established by YG Entertainment and Naver in August last year to develop a studio. Through this investment, WYSIWYG and NP will participate as joint operators in the multipurpose studio development project being promoted by YG and Naver within the complex cultural convergence district (Rhythm City) project site in Uijeongbu City.

Each company aims to build advanced infrastructure that creates synergy between content and entertainment businesses based on accumulated know-how in business areas such as content, platforms, and future technologies, thereby fostering a global content production ecosystem.

WYSIWYG, leveraging its CG and VFX (computer graphics and visual effects) capabilities, is transforming into a comprehensive media content company by acquiring subsidiaries such as RaemongRaein (a drama production company), Imagin9 Coms (a comprehensive broadcasting program production company), and NP (a brand experience new media content production company), originally focused on producing original content like films and dramas.

Recently, WYSIWYG successfully secured an investment of 45 billion KRW from Com2uS. WYSIWYG and Com2uS plan to expand game IP (intellectual property) into films, dramas, performances, and exhibitions, producing multi-content that incorporates metaverse technologies such as augmented, virtual, and mixed reality (AR, VR, XR).

WYSIWYG and YNC&S intend to contribute to the activation of global content production through active industry-academic cooperation with schools specializing in broadcasting and arts. A YNC&S official stated, “Each company aims to build advanced infrastructure that creates synergy between content and entertainment businesses based on accumulated know-how in business areas such as content, platforms, and future technologies, thereby fostering a global content production ecosystem. It is meaningful in that it establishes infrastructure and an R&D center capable of leading the industrial ecosystem.”

A WYSIWYG representative explained, “This equity investment in YNC&S is significant as it brings together WYSIWYG’s CG and VFX-based original content production pipeline, NP’s new media production and planning capabilities and virtual production operation technology, YG Entertainment’s global artist content, and universities’ research and experimentation into one state-of-the-art multipurpose studio.”

He added, “Based on production infrastructure befitting the elevated status of K-content, we will lead innovation in the content industry in the global market through organic collaboration and industry-academic exchange among each business. This is part of WYSIWYG and NP’s efforts to become top-tier comprehensive media content producers.”