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Singapore's Media Development Authority, CJ Entertainment Announces $50 Million Film Fund

Fund will support five years of filmmaking in Singapore.

A $50 million film fund to support five years of filmmaking in Singapore was announced Friday at AFM by the country's Media Development Authority and South Korean media giant CJ Entertainment.

Bang Singapore and Asia Media & Technology Capital also are parties to the fund, which will produce a slate led by CJE and funded through its joint new joint venture with Bang and AMTC.

"We are excited about the deal that bridges an established Singapore production company with a private Singapore media fund and a blue-chip Korean film company to build a pipeline of commercial film projects," MDA CEO Aubeck Kam said.

CJE CEO Katharine Kim praised her company's ongoing relationship with the MDA and Bang and welcomed new partner AMTC: "We believe this strategic Asian partnership will encourage a stronger integration among various talented Asian filmmakers as well as companies and expand the appeal of Asian films to the global market."

This is the third collaboration between Bang and CJE, following the two working title films Neon Sign, a project that was announced at last year's AFM, and Cooktales, a project announced this week at AFM, both of which will be funded by MDA's International Film Fund.

The MDA also said Friday that it has short-listed Cooktales and the stereoscopic 3D thriller-horror The Harvest for IFF support.

About the misadventures of a group of backpackers, The Harvest is to be produced by Singapore's Blackmagic Design Films (Bait) with Australia's Goalpost Pictures.

Cooktales is a coming-of-age drama set around a Singaporean amateur cook directed by Gina Kim (Never Forever). The film is the second collaboration between Bang CJ.