South Korea's CJ, Thailand's Major Cineplex to Co-Produce 10 Films
The two leading Asian film groups have inked a deal to jointly invest and produce some 10 titles for the next three years.
South Korea's CJ Entertainment has announced plans to co-produce some 10 films in the next three years with Thailand's Major Cineplex Group, the company announced Sunday.
The two companies signed a memorandum of understanding to launch a joint venture for film production and investment. The films created under the contract will include both international co-productions and local projects. CJ said in a statement that it also is looking to discover and nurture talented Thai producers, writers and directors.
The pact is expected to maximize bilateral cooperation by combining CJ Entertainment's planning and marketing skills with Major Cineplex Group's film production capability and theater network.
CJ is Korea's leading investor, distributor and exhibitor (CJ CGV chain) and has sold and distributed around 290 Korean titles in Thailand since 2000. Major Cineplex is Thailand's number-one operator of theaters and accounts for about 60 percent of the screens nationwide.
"For CJ Entertainment, the Korean film market means our root, while the Chinese market represents the present, and the Southeast Asian market, the future. We highly value the strong growth potential of the Southeast Asian market, and we aim to become Asia's No.1 studio through our 'One Source Multi Territory' strategy,” said Jeong Tae-Sung, head of CJ Entertainment.
Meanwhile, CJ and Thailand's Transformation Films are set to unveil the musical comedy Cha-Lui Reboot: Lost in Seoul on June 4. The teen movie about aspiring K-pop singers stars Nichkhun, the Thai member of K-pop boy band 2PM, as well as Thai stars Nicky Nachat and Jesse Mekwattana.