Lotte Homeshopping Invests 25 Billion KRW in 'Chorokbaem Media'... "Full-Scale Launch of Media Commerce"

[Asia Economy Reporter Lim Chun-han] Lotte Homeshopping announced on the 18th that it will directly invest 25 billion KRW in the content production company ‘Chorokbaem Media’ to expand its content commerce platform.

With this investment, Lotte Homeshopping secured the position of the second largest shareholder following Chorokbaem Company, the largest shareholder. This is part of Lotte Homeshopping’s vision to pursue a ‘First & True Media Commerce Company.’

The two companies plan to focus on strategic investments and discovering new businesses, including expanding content platforms and content intellectual property (IP) businesses. Lotte Homeshopping will support joint investment and production of dramas promoted by Chorokbaem Media. They will also actively develop and invest in licensing businesses such as webtoons and web novels based on original drama works.

Additionally, Lotte Homeshopping will launch the drama and entertainment content streaming channel ‘L-Play’ and a ‘Celebrity Community’ platform utilizing famous celebrities on its mobile application (app) by next year. They also plan to expand influencer content linked with artists affiliated with Chorokbaem Media’s subsidiaries and product planning using the related content.

A Lotte Homeshopping official said, “We have been continuously investing in new businesses to become a leading media commerce company. Recently, as the content platform market such as K-content expands, we have made investments in well-known domestic content production companies. We plan to maximize synergy by actively utilizing the infrastructure possessed by both companies to expand the content business area.”

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