Taekwang Group Makes Revolutionary Investment to Foster Content Business

[Asia Economy Reporter Hwang Yoon-joo] Taekwang Group is actively fostering its media content business as a new growth engine.

On the 31st, Taekwang Group announced that it would revitalize content production under the slogan "2020 Change & Challenge," centered on its media affiliate Tcast.

Tcast is the integrated brand for Taekwang Group's media content business sector. It operates a total of 10 channels including the comprehensive entertainment channel E Channel, as well as movie, drama, women's trends, animation, and mid-tier channels, along with the art cinema "Cinecube."

Tcast is actively working to become a content powerhouse by hiring a large number of content production personnel and making bold investments in in-house production. It plans to invest at least 100 billion KRW solely in content production.

In 2020, after recruiting PDs and writers and completing organizational structuring to strengthen production capabilities, it plans to fully launch killer content production in 2021 to build a strong brand. In particular, it plans to drastically increase the number of in-house productions and convert its flagship channel, E Channel, into a channel specializing in in-house production.

First, to create an environment capable of planning and producing killer content, it recruited a large number of star PDs. On January 1st, Tcast announced contracts with two high-profile industry figures known for their high salaries: CP Jo Seo-yoon, who directed MBC variety programs "We Got Married" and "Radio Star," and PD Je Young-jae, who was involved in producing "Infinite Challenge," signaling a dramatic change. Additionally, in February, it signed further contracts with PD Lee Byung-hyuk, formerly of MBC, and other global PDs, and in March, it recruited PDs Lee Ji-sun and Bang Hyun-young, who were with JTBC.

After recruiting talent, Tcast established the Sangam Campus in Sangam-dong, Mapo-gu, equipped with large-scale video editing rooms and conference rooms, creating an environment where production staff can focus solely on program production. Furthermore, it strengthened its commitment to in-house content production and its goal to move toward the future by additionally recruiting writers, ADs, CG experts, and other personnel for the production and editing teams.

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