TakeOneStudio "Focusing on New Content to Create the Second Squid Game"

Establishment of a Specialized Content IP Company
Pursuing Diverse Transmedia Including Films, Dramas, Webtoons, and Animation
Producing 5 Video Works by Next Year

"The capabilities of Korean creators working in the film and drama industries have already reached a level that can compete in the global market. To create the 'second Squid Game,' we will focus on content production without fearing new challenges."

Jung Min-chae, CEO of Take One Studio (pictured), recently attended the Busan International Film Festival earlier this month. This was because Take One Studio's first film, Distorted House, was officially invited to the festival. CEO Jung said, "Meeting numerous filmmakers on site, I once again felt the power of film as an art form," adding, "I have gained confidence that the film industry will not shrink due to the COVID-19 pandemic."

Jung, who majored in media studies at university, worked at a game company and a drama production company after graduation, then served as an investment analyst at a venture capital firm, discovering promising content and IT companies. Thanks to her diverse experience across the industry, she was able to decide to start her own business. Founded in 2016, Take One Company produced the cinematic game BTS World, recording sales of 14.3 billion KRW last year. Realizing the importance of intellectual property (IP), she established Take One Studio as a spin-off earlier this year.

Take One Studio, a company specializing in content IP, is organized into three divisions by genre: film and drama, webtoons and web novels, and characters and animation. CEO Jung pursues "transmedia," where a single piece of content enriches stories and characters across various genres. She stated, "It is no exaggeration to say that the current content industry is a world of IP holders. If you have a super IP, you can partner with companies and lead various businesses."

Last month, Take One Studio secured 10 billion KRW in Series A funding and plans to produce about five video works by next year. In addition to producing webtoons and web novels, they are also working on character-related projects with artist Hojo, who designed Kakao Friends.

CEO Jung highlighted the future growth potential of Korea's cultural content industry. She said, "In the past, the domestic film market was so small that there was a strong perception of 'hunger and hardship,' but now the environment allows us to produce films with a global market in mind. Korean films and dramas will now blossom and have infinite growth opportunities." She shared an anecdote from the time when the film Parasite won an Academy Award and Squid Game achieved worldwide success: "The success of Korean content brought tremendous stimulation, inspiration, and energy to established film directors and writers. A film studies professor said that after Parasite won, student applications increased. I expect the younger generation to grow and create even greater achievements than now."

CEO Jung's management philosophy and the company's motto is "Do not be afraid to challenge new things." She said, "If you pursue new paths instead of following existing success formulas, opportunities will surely come. Even if you fail in new attempts, there are lessons and insights gained from the process." She told aspiring entrepreneurs that "now is the best time to start a business." She assessed, "The current industrial structure in South Korea is being reorganized around innovative companies and startups that can respond quickly to changes, and policy support for this is becoming stronger."