Nexon Invests 15 Billion KRW in Project Joint Venture YN C&S... Participates in Development of Uijeongbu Rhythm City

[Asia Economy Reporter Kang Nahum] Nexon announced on the 24th that it will participate in the ‘Uijeongbu Rhythm City’ urban development project by investing 15 billion KRW in YN Culture&Space (YN C&S).

YN C&S is a joint venture established by Nexon, YG Entertainment, Naver, Wysiwyg Studios, NP, and others with the aim of leading the future-oriented cultural content industry.

YN C&S will create the ‘Immersive Digital Media Center (I-DMC)’ in ‘Uijeongbu Rhythm City,’ a future-oriented content production facility that combines each company’s intellectual property (IP), service platforms, visual effects (VFX), and extended reality (XR) technologies.

The I-DMC consists of a total of five multi-studio buildings, including three ultra-large studios of approximately 3,300㎡ each and two large studios ranging from 2,000 to 2,600㎡, including VFX studios. It targets the rapidly increasing demand for blockbuster content production centered on online video services (OTT) and plans to build a global content ecosystem encompassing the entire cultural industry, including original content production such as movies and dramas, as well as games, music, music videos, performances, and e-sports.

The I-DMC can also be directly utilized by participating companies. It is equipped with functions suitable for various projects such as hosting e-sports events and various showcases, music video filming, online concerts, and production of movies, dramas, and entertainment shows.

Additionally, R&D studios and business support facilities for creating industry-academia-research communities will be established. Based on the IP and production technologies owned by the joint venture, the plan is to nurture next-generation talent and secure long-term industrial competitiveness.

Lee Jung-heon, CEO of Nexon, said, "We will strive to expand the competitiveness of the digital content industry by creating synergy with our partner companies in the rapidly changing media environment."

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