WYSIWYG Studio, M83, and FOS Creative Party Expected to Go Public Within the Year

The comprehensive media content production group Wysiwyg Studios announced on the 19th that two visual effects (VFX) studios, in which it has made strategic investments and maintains collaborative relationships, are planning to list on the KOSDAQ within this year.

M83, a computer graphics (CG) specialist company led by CEO Jeong Seong-jin, was invested in by Wysiwyg in 2021. Its representative works include Netflix’s Sweet Home Season 2, TVING’s After School War Activities, and the films Noryang: Sea of Death and Hansan: Rising Dragon. M83 submitted its securities registration statement to the Financial Services Commission last month and aims to go public within this month. If M83’s listing process proceeds smoothly, it is expected to become the first successful IPO case of Wysiwyg’s CG/CFX alliance.

Last year, Wysiwyg made a strategic investment by participating in a third-party allotment paid-in capital increase along with friendly institutions in Fos Creative Party, an animation and VFX production company, acquiring new shares worth a total of 25 billion KRW. Fos Creative Party selected its listing underwriter in October last year and is preparing for a KOSDAQ listing within this year. The company mainly works on projects by world-renowned masters such as Bong Joon-ho and Park Chan-wook. Its animation business, which has been focused on for several years, is now on track, and market expectations are particularly high as it is progressing with a major animation project with director Bong Joon-ho.

Wysiwyg has also collaborated on various projects with M83 and Fos Creative Party. The 2022 project Hansan: Rising Dragon is a representative example. Wysiwyg handled the Battle of Gyeonnaeryang in the middle part of the film, while M83 was responsible for the latter part, the Battle of Hansando. Both companies worked closely with the director and many stakeholders from before production to successfully realize scenes totaling 1,900 cuts. This is significant as it involved handling water, considered one of the most challenging elements in VFX work. Additionally, in 2023, they collaborated on VFX work for the Coupang Play series Boyhood with Fos Creative Party, continuously generating synergy through project collaborations and joint investments in various ways.

Last year, Wysiwyg achieved a separate net profit of 43 billion KRW, reaping the fruits of its investments to date. The unrealized value of investment assets is expected to further increase following events such as the IPOs of VFX companies.

A Wysiwyg representative said, "We are expanding our network through strategic investments related to media content," adding, "We expect the value of our investment assets to continue to increase through the performance of each company."