Media giant CJ ENM is launching CJ ENM Studios, a new venture that will specialize in content production for OTT platforms in Korea and worldwide. Yong Soo Ha, former EVP of CJ ENM’s Business Development & Investment team, has been appointed CEO.
CJ ENM Studios will join the Korean entertainment group’s existing production powerhouse Studio Dragon and its recently acquired Endeavor Content. It is designed to cover a wide spectrum of different genres and plans to recruit star talent/creators and expand its presence through the acquisition of top tier production companies.
CJ said today that the new outfit, “will serve as another basecamp for content production. The strategic move to launch CJ ENM Studios comes at a time where there is high global demand for K-content, and the multi-studio structure will serve as one of CJ ENM’s core global competitiveness.”
The three studios under CJ ENM are part of the company’s plan to strengthen its global content production and multi-studio structure. Studio Dragon is behind such global hits as Crash Landing On You, Hometown Cha Cha Cha and Sweet Home and plans to increase its scripted content production volume. Endeavor Content, which CJ ENM recently acquired in a $785M deal, will produce content and also utilize its global network for CJ ENM content distribution.
Ha joined CJ ENM in 2018, overseeing business strategy and M&As. Prior to his role as Head of Management Support Division (CFO) at CJ ENM, he was also the Head of Corporate Business Strategy at the CJ Group, first joining the company in 2009.