The E&M Accelerates Negotiations for Cheongna Video Culture Complex... Selection of Designers and Administrative Procedures Underway

THE E&M announced on the 20th that it is accelerating the full-scale promotion of the Cheongna Video Culture Complex Project by resolving judicial risks related to the project.

The project, for which THE E&M was selected as the preferred negotiator, involves developing video production infrastructure such as indoor and outdoor studios and cultural facilities on an 188,282㎡ investment attraction site in Cheongna-dong, Seo-gu, Incheon. Currently, THE E&M is in the process of contracting with top domestic design firms as a foundation to develop the Cheongna Video Culture Complex into a world-class studio city.

The company selected Geonwon, a comprehensive architectural firm ranked first domestically and third globally in the residential sector by the UK architectural magazine Building Design’s “2024 World Architecture Top 100,” as the lead firm.

Additionally, the company formed a consortium with Heerim Architects & Planners, ranked sixth overall, and Geunjeong Architects & Planners, a firm leading domestic and international transportation infrastructure design. This strategy aims to simultaneously carry out urban architectural planning and other design tasks to shorten the project schedule.

Previously, THE E&M signed a strategic agreement with XM2, a global special effects and aerial filming specialist company, to promote studio operation-related businesses. Alongside this, the company plans to attract overseas tentpole productions with global production companies and establish partnerships with global OTT (over-the-top) service providers, major production companies, and renowned producers.

The company stated, “We plan to build an innovative entertainment ecosystem with trendsetters leading the global video industry, aiming to become the Hollywood of Asia.”

Meanwhile, Cheongna International City is currently undergoing multiple development projects simultaneously, including Starfield Cheongna, Cheongna Medical Complex Town, Hana Financial Town, International Business District, International Financial District, and Cheongna Costco. Major transportation developments such as the Airport Railroad-9 Line direct connection project, Seoul Line 7 extension, opening of the 3rd Yeonryuk Bridge, additional opening of the Cheongna-Incheon North Port connecting road, and GTX-D development are also planned, raising expectations for regional economic revitalization.

A company official said, “With the recent resolution of judicial risks related to the preferred negotiator selection, administrative procedures for project promotion and detailed discussions on studio operation plans are gaining momentum. Although multiple negotiations are currently underway, due to confidentiality agreements, we expect to present concrete results in the future.”