Studio Santa Claus announced on the 4th that it has signed an MOU (Memorandum of Understanding) for joint drama production with the Taiwanese drama production company, ‘Taiwan Yuanlae Entertainment Media Co., Ltd.’
Studio Santa Claus is undergoing an overall business restructuring this year, promoting effective business diversification through various pre-investments and strengthening capabilities in each business sector. This MOU is part of various business efforts for the global expansion of K-content.
The MOU partner, Taiwan Yuanlae Entertainment Media Co., Ltd., is a film and drama specialized investment and production company based in Taiwan. The signing of this MOU with Studio Santa Claus was made to jointly invest in a co-produced drama project in line with the ‘Black Swan Project’ led by the Taiwanese government from 2024 to 2027 for the development of the country’s cultural industry.
The ‘Black Swan Project’ is led by the Taiwanese government to strengthen content production capabilities, nurture and develop large production companies, expand the scale of production in the film and TV sectors, and promote comprehensive upgrades in human resources and technology, aiming to enhance the international competitiveness and influence of Taiwanese content.
Dramas supported by the Black Swan Project will receive up to 40% of their production costs funded after review by the Taiwan Cultural Content Promotion Institute. Studio Santa Claus and Taiwan Yuanlae Entertainment Media will jointly invest the remaining production costs and proceed with the Korea/Taiwan joint drama production project.
For the global expansion strategy of K-content, Studio Santa Claus also invested in ‘K-Enter Holdings,’ a business holding company formed in August by major domestic video content producers and entertainment companies sharing the same vision. Studio Santa Claus expects that combining its content investment, distribution, and artist management capabilities with K-Enter Holdings’ value chain integration and IP utilization maximization will enable a re-evaluation of Korean content companies in the global market and create high synergy.
A representative of Studio Santa Claus stated, “Based on broad insights into films and dramas, we will continue strategic investments and business diversification for the globalization of K-content.”
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