Fantagio Sells Real Estate Investment Worth 7.5 Billion KRW... "Strengthening Content Competitiveness"

[Asia Economy Reporter Jang Hyowon] Comprehensive entertainment company Fantagio announced on the 7th through a public disclosure that it sold investment real estate worth 7.5 billion KRW. The real estate sold this time consists of land and buildings located in Jeongnam-myeon, Hwaseong-si, Gyeonggi-do, with the balance payment date set for the 30th.

Through this real estate sale, Fantagio plans to secure cash liquidity to improve its financial structure while expanding its business into the video content field such as drama production alongside the growth of its existing entertainment business.

Fantagio signed an exclusive contract with child actress Park Yerin, who gained worldwide recognition for her role as Kkotnim in the Netflix film "Space Sweepers," and plans to continuously recruit well-known and skilled established actors and musicians to grow its core entertainment business.

Additionally, to enter the video content field, Fantagio is pursuing the acquisition of drama production companies that own competitive IPs serialized on platforms like Naver and Kakao. Furthermore, it is reviewing and planning to secure new IPs for over 20 diverse works, including webtoons, novels, and essays from Naver and Kakao, as well as dramas from the United States and China.

A Fantagio representative stated, "Fantagio, which has achieved results in existing management, album planning, and production businesses, plans to expand its business area into video content fields such as dramas and films to enter the OTT market," adding, "The funds from this real estate sale will be used to equip Fantagio with competitiveness to leap forward as a comprehensive content company."

He continued, "To maintain continuous competitiveness in the OTT market, securing diverse IPs is essential," and added, "Along with this, we will steadily enhance our business competitiveness by newly recruiting actors and musicians who possess both talent and recognition."