THE E&M announced on the 5th that it has signed a contract to establish a joint venture (JV) with ONE WORLD IMPACT INVESTMENT HOLDINGS LTD (hereinafter OWI), a global financial investment firm.
The joint venture related to global studio business investment is scheduled to be established in Singapore within April. Previously, THE E&M and OWI held a signing ceremony for a letter of intent to establish a joint venture related to global studio business investment in Budapest, Hungary, last February.
OWI is a UK-based global large-scale investment management company with assets totaling over $100 billion (approximately 133 trillion KRW). Through the joint venture, the two companies will actively participate as financial investors in the global studio, including the “Cheongna Video Culture Complex Development Project.” They plan to raise and invest funds amounting to $1 billion (approximately 1.33 trillion KRW).
A company official stated, “Since being selected as a preferred consortium for the Cheongna Video Culture Complex project last year, we have maintained a close relationship with OWI.”
He added, “After signing the letter of intent, we discussed specific procedures and methods related to the joint venture, and we expect that the successful establishment of this joint venture will accelerate the progress of the studio business.”
Meanwhile, OWI submitted a letter of intent to attract investment worth $5 billion (approximately 6.65 trillion KRW) to Incheon City in Paris, France, last February.
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