Film Company Mu-il and Global Special Effects Company XM2 Join Hands to Establish 'Saemangeum Comprehensive Filming Studio'

Establishment of Virtual Studio, Aqua Studio, and Special Effects Filming Academy

Signing ceremony for the establishment of Saemangeum Gunsan Studio. From the left in the photo: Kim Yong-gwan, CEO of Korea Culture Contents Exchange, Chris Kim, Asia Director of XM2, Steven Oh, CEO of XM2 Group, Jonathan Hong, America Director of XM2 (on screen, representing the U.S.), Choi Kwang-seok, CEO of Film Office Il. Photo by Film Office Il

[Asia Economy Reporter Kim Heeyoon] The establishment of Asia's largest comprehensive filming studio is being promoted in Saemangeum.

Film company Mu-il (CEO Choi Kwangseok) announced on the 22nd that it has signed a business agreement with XM2 (CEO Steven Oh) and the Korea Cultural Contents Exchange (CEO Kim Yonggwan) to establish the Saemangeum Comprehensive Filming Studio.

This agreement was promoted to establish Asia's largest comprehensive filming studio equipped with a virtual studio, aqua studio, outdoor studio, and a special effects filming academy, in addition to the existing film shooting studio scale. Film company Mu-il will discuss practical plans for studio planning and operation together with the global special effects filming company XM2.

The tentatively named 'Saemangeum Gunsan Studio' plans to build high-cost special effects filming equipment according to advanced special effects filming techniques and serve as an incubator by establishing and operating an academy for training special effects filming personnel. By attracting original productions for the recently increased global OTT platform broadcasts (production services), it is expected to attract foreign investment, revitalize the local economy, and have a positive effect on Saemangeum development.

Film company Mu-il is a production company that has produced Korea-China co-produced films in China for 15 years, including "Big Ears Bring Fortune," "Blue River Flows" (2008 Busan International Film Festival invited work), "Iron Piano" (2010 release, winner of multiple international film festival awards), and "Mr. High Heel" (ranked 3rd in Chinese box office in 2016). Starting with the production of the Gunsan Port set recreating the Gunsan area of the 1900s this year, they are promoting the production of "Jjaeboseonchang Murder Case (working title)" aiming for broadcast in 2023.

Officials from the US-based XM2 Studio participating in the MOU for the establishment of Saemangeum Gunsan Studio. Photo by Movie Company Muil

XM2 is a Hollywood special effects filming and aerial filming specialist company with bases in the United States (Los Angeles, Atlanta), the United Kingdom (London), and Australia (Melbourne, Gold Coast). It is a global special effects filming company that has partnerships with film production companies, broadcasters, and corporations worldwide. It has participated in the production of films such as Fast & Furious, Pirates of the Caribbean, Mission: Impossible, and the 007 series. Currently, it is involved in original works as a strategic cooperation partner in filming technology development with global streaming OTT companies. Through this agreement, XM2 plans to establish a Korean corporation.

The Korea Cultural Contents Exchange (KCBC) is a new form of inter-country exchange service platform that helps domestic and international cultural content companies and content IP-based overseas expansion through global fund formation. It supports actual production investment for various cultural content idea planning and is building a cultural content investment and trading system through the expansion of a global distribution trading platform across Asia.

The three companies plan to start the establishment of a studio corporation (SPC) in May and begin full-scale business implementation.

Choi Kwangseok, CEO of Film company Mu-il, said, "Through the promotion of the Saemangeum Gunsan Studio project, we aim to cooperate with the long-term policies prepared by Gunsan City and the Saemangeum Development Authority, such as revitalizing the tourist complex, establishing a cinema theme park, and operating an international video media university," adding, "We hope it will be the foundation for revitalizing the local economy and advancing as a cultural hub city."