[Asia Economy Reporter Yoo Hyun-seok] Chorokbaem Media has been confirmed to be approached by multiple content companies regarding investment discussions.
According to industry sources on the 27th, Chorokbaem Media recently held investment talks with several companies including China's TikTok and the US-based Fox Corporation. It is also known to have had discussions with YG Entertainment and Wemade, among others.
However, the company’s position is that nothing has been decided yet. A company representative explained, "It is true that we have had discussions with various companies," but added, "Nothing has actually progressed yet."
These content companies are interpreted to place high value on Chorokbaem Media’s intellectual property (IP). With Korean dramas, including 'Squid Game,' gaining recognition in the global market recently, interest in the drama production company Chorokbaem Media has also increased.
Chorokbaem Media produced dramas such as 'Penthouse' and 'Marriage Lyrics and Divorce Music.' Additionally, the drama 'One Day,' starring actors Kim Soo-hyun and Cha Seung-won, is scheduled to air in November, and next year, they plan to release 'Youth,' a video adaptation of BTS’s worldview.
As a drama outsourcing production company, Chorokbaem Media recorded sales of 64.4 billion KRW and an operating profit of 3.8 billion KRW in the first half of this year. The success of dramas like 'Penthouse' and 'Marriage Lyrics and Divorce Music' is cited as the main reason.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
