Ten Films to Be Produced Over Three Years
Production Costs to Be Shared Equally
Showbox announced on September 11 that it has signed a strategic business partnership agreement with KT Studio Genie for the joint production of films.
Over the next three years, the two companies will jointly invest in, produce, and distribute ten commercial films. Each company will cover half of the production costs, aiming to revitalize the stagnant film market.
Showbox will be responsible for domestic distribution and marketing. Leveraging its experience in distributing box office hits such as "A Taxi Driver" (2017), "Assassination" (2015), and "The Thieves" (2012), Showbox plans to enhance the competitiveness of the projects. KT Studio Genie will integrate AI technology into pre-visualization to improve production efficiency. The company will also handle domestic and international rights distribution, as well as supply to IPTV and OTT platforms.
Shin Hojung, CEO of Showbox, stated, "The combination of proven distribution capabilities and innovative production methods will offer audiences a new cinematic experience." Jung Geunwook, CEO of KT Studio Genie, also commented, "By introducing AI technology, we plan to minimize production risks and maximize quality," adding, "We expect to begin production on the first project within this year."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
