Nexon Invests 15 Billion KRW in Project Joint Venture YN C&S... Participates in Development of Uijeongbu Rhythm City

[Asia Economy Reporter Kang Nahum] Nexon announced on the 24th that it will participate in the ‘Uijeongbu Rhythm City’ urban development project by investing 15 billion KRW in YN Culture&Space (YN C&S).

YN C&S is a joint venture established by Nexon, YG Entertainment, Naver, Wysiwyg Studios, NP, and others with the aim of leading the future-oriented cultural content industry.

YN C&S will create the ‘Immersive Digital Media Center (I-DMC)’ in ‘Uijeongbu Rhythm City,’ a future-oriented content production facility that combines each company’s intellectual property (IP), service platforms, visual effects (VFX), and extended reality (XR) technologies.

The I-DMC consists of a total of five multi-studio buildings, including three ultra-large studios of approximately 3,300㎡ each and two large studios ranging from 2,000 to 2,600㎡, including VFX studios. It targets the rapidly increasing demand for blockbuster content production centered on online video services (OTT) and plans to build a global content ecosystem encompassing the entire cultural industry, including original content production such as movies and dramas, as well as games, music, music videos, performances, and e-sports.

The I-DMC can also be directly utilized by participating companies. It is equipped with functions suitable for various projects such as hosting e-sports events and various showcases, music video filming, online concerts, and production of movies, dramas, and entertainment shows.

Additionally, R&D studios and business support facilities for creating industry-academia-research communities will be established. Based on the IP and production technologies owned by the joint venture, the plan is to nurture next-generation talent and secure long-term industrial competitiveness.

Lee Jung-heon, CEO of Nexon, said, "We will strive to expand the competitiveness of the digital content industry by creating synergy with our partner companies in the rapidly changing media environment."