The E&M Signs LOI with Hollywood Global Producer for Cheongna Video and Cultural Complex Project

THE E&M announced on the 12th that it has signed Letters of Intent (LOI) with major Hollywood producers following global studio operators.

The contracting parties, producers Roy Lee and Scott Strauss, are veteran producers in Hollywood. After reviewing the company’s plan for the Cheongna Video & Culture Complex, they described it as “a project that will become an Asian hub for video production.” They further expressed strong willingness to participate in the project, stating, “It will satisfy the demand for Asian expansion that could not be connected due to lack of infrastructure until now.”

Roy Lee, a Korean-American, has worked on numerous projects including the 2002 film The Ring, The Grudge, the TV series The Exorcist, and the How To Train Your Dragon series. Notably, he won the Best Picture award at the 79th Academy Awards for Warner Bros. Pictures’ film The Departed, starring Leonardo DiCaprio and Matt Damon.

Scott Strauss is also actively working in Hollywood and was the producer of If Only, which has been re-released several times in Korea. Additionally, THE E&M introduced the Cheongna Video & Culture Complex to Janet Yang, AMPAS Chair known for the Academy Awards, the American Society of Cinematographers (ASC), and the comprehensive media PR agency Range Media Partners.

THE E&M plans to discuss conducting high-level cinematography and technology-related education domestically in cooperation with ASC and Hollywood. They also intend to explore ways to utilize human and physical networks of Range Media Partners for the Cheongna Video & Culture Complex.

Meanwhile, THE E&M introduced the future value and vision of the Cheongna Video & Culture Complex to over 150 film industry professionals and experts at a special forum held during the 29th Busan International Film Festival. They emphasized that creating a complex cluster rather than a single studio is essential to becoming a competitive Asian hub studio.

A company representative stated, “We plan to identify the problems of domestic studios and discuss improvement measures such as overseas cases and the introduction of tax incentives,” adding, “We will build infrastructure and networks where producers can realize their potential and attract world-class productions to the Cheongna Video & Culture Complex.”