Gwangju Bank Invests 3 Billion KRW to Pave the Way for Entry into the Film Industry

‘Deliver Us from Evil’ Shows Signs of a Blockbuster Investment Success

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 2nd that it has laid a foundation for entering the film industry by investing 3 billion KRW in the film investment fund ‘QCP Contents Investment Association No. 26’.

The ‘QCP Contents Investment Association No. 26’ fund is a fund that invests in Korean films through a strategic partnership with CJ ENM, allowing it to invest a certain amount of the total production cost in all films invested by CJ ENM.

This fund was raised to a total size of 25 billion KRW, with 23.5 billion KRW contributed by 11 institutions including Gwangju Bank, and an additional 1.5 billion KRW from the management company Q Capital Partners Co., Ltd. A portion of this was invested in the film ‘Deliver Us from Evil,’ which was released on the 5th of last month.

Typically, the revenue structure for film distributors is such that they share half of the sales revenue, excluding 10% VAT and 3% film promotion development fund, with theaters, and then the remaining revenue after deducting a 10% distribution fee is split 60:40 between investors and producers.

‘Deliver Us from Evil’ has surpassed a cumulative audience of 4.26 million as of the previous day, showing considerable success despite the impact of COVID-19.

Song Jong-wook, President of Gwangju Bank, said, “By investing in the ‘QCP Contents Investment Association No. 26’ fund, we are diversifying our investment directions and strategies, and at the same time gaining promotional effects by exposing the ‘Gwangju Bank’ name in the film’s ending credits. We plan to continue sustainable investments by maximizing portfolio effects through diversified investments in various opportunities.”

Meanwhile, Gwangju Bank, which has established a foothold in the film industry through this investment, has been influencing the development of local cultural projects through the Korean Painting Contest ‘Gwangju Hwaryu’ for Korean painting artists nationwide since 2016. ‘Gwangju Hwaryu’ is a cultural event promoted by Gwangju Bank, embodying the hope that Gwangju becomes a ‘fortress’ preserving the tradition and lineage of Korean painting, and this year marks its 4th edition. It is regarded as a representative contest specialized in the field of Korean painting within a relatively short period.

Following President Song’s management philosophy of ‘pursuing value beyond profit,’ Gwangju Bank plans to expand its growth areas in various ways, including diverse investments, expanding its business base, and continuous social contribution activities, aiming not only to improve profitability but also to grow broadly.

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