Chorokbaem Media Sells Exclusive Japanese License for Kim Soo-hyun and Cha Seung-won's 'One Day'... "Signal for Global Market Entry"

[Asia Economy Reporter Yoo Hyun-seok] Drama production company Chorokbaem Media announced on the 9th that it has signed an exclusive license sales contract with ‘Corpus Korea,’ a Korean Wave OTT (online video service) content distribution specialist in the Japanese market, for the broadcast, VOD, and OTT rights of its pre-produced drama starring Kim Soo-hyun and Cha Seung-won, titled ‘One Day (working title)’ in Japan.

The drama ‘One Day (working title)’ is a pre-produced work for which Chorokbaem Media secured the original IP and generated the first OTT-related revenue, with Coupang Play having already secured the exclusive domestic broadcasting rights.

Since the company has secured its own IP, there are high expectations for the global broadcasting rights sales of ‘One Day (working title),’ and by selling the exclusive license in Japan, it has achieved its first overseas revenue.

In addition to the Japanese market where the broadcasting rights have been sold, there is a positive outlook for ‘maximizing profit generation’ due to the unlimited scalability for export to overseas markets such as Asia, the Americas, and Europe. Moving away from the previously limited revenue structure of the outsourcing production model, the company is leading direct domestic and international distribution of rights, which is expected to result in not only growth in scale and profitability but also gradual increase in corporate value.

The contract partner, Corpus Korea, is a company that has been promoting the OTT business in Japan since before the first generation of Korean Wave and distributes competitive Korean Wave content to broadcasting platforms in the Japanese market. Representative purchased works include ‘Goblin,’ ‘The Legend of the Blue Sea,’ ‘100 Days My Prince,’ ‘Tale of the Nine Tailed,’ and ‘Now, We Are Breaking Up.’

The remake drama ‘One Day (working title),’ based on the UK BBC’s ‘Criminal Justice,’ is the third adaptation after the United States and India. Featuring an unprecedented casting of Korea’s top two actors Kim Soo-hyun and Cha Seung-won, it is considered the most anticipated work of the second half of 2021. Chorokbaem Media, ‘The Studio M,’ and ‘Gold Medalist’ are co-producing the drama.

A representative of Chorokbaem Media said, “With the global OTT platforms’ keen interest and high expectations for securing K-dramas, we will strive to expand the global market distribution rights of the drama ‘One Day (working title).”

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