Microtech Subsidiary Signs Drama Production Supply Contract Worth 11.6 Billion Won

[Asia Economy Reporter Jang Hyowon] Ace Factory, a 100% subsidiary of Microtech, announced on the 4th that it has signed a drama production and supply contract worth 11.68 billion KRW with Jcontentree.

Microtech's first produced drama, "If the Weather Is Good, I Will Find You," is a Monday-Tuesday drama that will air on JTBC starting from the 24th. Starring actors Seo Kang-joon and Park Min-young, the drama will be a collaboration between Ace Factory's writer Han Garam and director Han Ji-seung.

Ace Factory plans to produce "If the Weather Is Good, I Will Find You" in the first half of 2020 and "Stranger" Season 2 in the second half. The company also explained that it is currently discussing drama production requests and scheduling contracts with multiple general programming and cable channels.

Ace Factory is a drama production company established in 2018 by personnel who independently separated from producing famous dramas such as SBS's "Defendant" in 2017, tvN's "Stranger," and JTBC's "Life" in 2018. Their first drama production was the 2019 tvN drama "Confession," and by July of last year, they recorded sales of 10.664 billion KRW and operating profit of 1.185 billion KRW. They have contracts with 11 writers and PDs, including Lee Soo-yeon, writer of "Stranger" and "Life," and Lim Hee-chul, writer of "Confession," and approximately 30 actors are also affiliated.

Microtech plans to complete the absorption merger with Ace Factory within this month. Once the merger is completed, the company will operate both the existing semiconductor equipment division and the new entertainment division concurrently. Drama production sales will be reflected entirely in the sales and profits of the IFRS separate financial statements.

A Microtech official stated, "In addition to domestic broadcasters, we plan to expand collaboration with global OTT platforms," adding, "Netflix announced a plan to invest 20 trillion KRW in new content development this year, and since our contracted writers have a history of supplying works to Netflix, we expect this to be advantageous in contracts."

He continued, "As the content market is reorganizing into a market centered on content suppliers such as drama production companies, we expect Microtech Entertainment's new business expansion to gain further momentum."

This content was produced with the assistance of AI translation services.