The E&M Secures 1.33 Trillion KRW Investment for 'Studio City' from Global Investor OWI

(From left) OWI Rabelin Tchoumi, Chairperson, The E&M CEO Shin Hwan-ryul. /Photo by The E&M

THE E&M announced on the 28th that it has signed a letter of intent to establish a joint venture for global studio business investment with ONE WORLD IMPACT INVESTMENT HOLDINGS LTD (hereinafter ‘OWI’), a global financial investment firm.

The event held in Budapest, Hungary was attended by THE E&M CEO Shin Hwan-ryul and OWI Chairman Lavellin Chowmi.

As a financial investor, OWI will invest 1 billion USD (approximately 1.33 trillion KRW) in ‘Studio City’. The Studio City project is a global studio investment business jointly undertaken by THE E&M and OWI, including the ‘Cheongna Video and Culture Complex Development Project’. OWI plans to raise 1 billion USD as a global studio fund to establish a joint venture (JV) with THE E&M and make investments.

OWI, a global investment firm based in the UK, is a large-scale global investment management company with assets exceeding 1000 billion USD (approximately 133 trillion KRW). It is an alternative investment company providing long-term investment capital for sustainable projects worldwide and is attracting investments in 65 countries.

Previously, OWI Chairman Lavellin Chowmi submitted a letter of intent to Incheon City to invest 5 billion USD (approximately 6.65 trillion KRW) in various industries including ▲low-carbon and clean energy ▲semiconductor industry ▲smart logistics ▲food security ▲Incheon Free Economic Zone, along with the Studio City project. This investment-related event took place on the 26th in Paris, France, with Incheon Mayor Yoo Jeong-bok and Incheon city officials.

A representative of THE E&M stated, “Since being selected as the preferred consortium for the Cheongna Video and Culture Complex project in March last year, we have maintained a close relationship with OWI by signing a non-disclosure agreement (NDA) and a related letter of intent in July last year. We will accelerate the promotion of this project through this event.”