CJ ENM Heading to the World, Recruits 'M&A Expert' Kim Yoonhong

Establishment of Growth Strategy Office and Open Innovation Team

[Asia Economy Reporter Cha Min-young] CJ ENM Entertainment Division, aiming to become a 'global entertainment company,' has recruited Kim Yoon-hong, an M&A expert, as part of its future growth engine. The company plans to secure growth momentum through global partnerships while also venturing into new businesses based on content intellectual property (IP) such as the metaverse and non-fungible tokens (NFTs).

CJ ENM announced on the 22nd that it established a Growth Strategy Office through an organizational restructuring on the 21st and appointed Kim Yoon-hong as the head of the office.

Kim Yoon-hong, newly recruited, is a global strategist who served as an MD at Citigroup Global Markets Asia Hong Kong IBD office and successfully completed numerous mergers and acquisitions (M&A) and landmark capital market deals in the Asian and Korean markets. As an expert in the TMT (Technology, Media, Telecom) sector, he has a track record of securing large-scale investment deals and major M&A transactions with companies such as Krafton, Kakao, and Netmarble.

The core focus is on global M&A deals and strategic partnerships. Following the acquisition of the U.S. Endeavor Content company and a strategic partnership with Paramount at the end of last year, the Growth Strategy Office will lead efforts to secure new growth engines for the company and expand investments. They are also planning new digital businesses such as the metaverse and NFTs to diversify their business. The NFT business will be promoted based on the content IP accumulated so far.

The Strategic Planning Team under the Growth Strategy Office will be responsible for the metaverse and NFT businesses, concretizing their commercialization. Through the newly established Open Innovation Team, CJ ENM plans to take charge of investment and management of promising domestic and international technologies, startups, and venture capital (VC). They will also strengthen shareholder relations (IR) functions linked to mid- to long-term business strategies.

CJ ENM stated, "In order to survive in the fierce global competitive environment, strategic investments for future value and entry into new businesses that will form the foundation for future growth have become essential. We will scale up as a globally sustainable entertainment company by creating synergy between existing and new businesses."

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