Kang Guk-hyun KT President "5 Trillion Won Media and Content Sales by 2025... 10 Trillion Won Corporate Value"

KT Group to Hold Media Day on the 7th
Studio Genie to Release 24 Original Dramas
SkyTV and Media Genie’s 4 Channels Reorganized as 'ENA'
Partnership with CJ ENM... Senior Executives Appointed to Mutual Cooperation Committee

Kang Guk-hyun, President of KT Customer Division, held the 'Group Media Day' on the 7th together with KT Studio Genie and Sky TV, announcing the goal of achieving 5 trillion KRW in media and content sales by 2025. Photo by Cha Min-young

[Asia Economy Reporter Cha Min-young] "If KT Group grows together based on the media value chain it possesses, the group's sales are expected to reach 5 trillion KRW by 2025. Even applying a multiple of just 2 times, a corporate value of 10 trillion KRW is possible."

Kang Guk-hyun, President of KT Customer Division, held the 'Group Media Day' together with KT Studio Genie and SkyTV on the 7th at the Sofitel Ambassador Seoul Hotel in Jamsil, Seoul, presenting the goal of '5 trillion KRW in group media and content sales by 2025' and a business blueprint. Over the next three years, they plan to invest 500 billion KRW to grow to 1.4 times the 2021 sales (3.6 trillion KRW).

"Increase annual sales by 1.4 times within 3 years"

Kim Cheol-yeon, CEO of KT Studio Genie, is introducing the lineup of 24 original drama contents.

First, KT Studio Genie will sequentially release 24 original dramas starting from May. There will be 10 in 2022, 11 in 2023, and 3 in 2024. Beginning with 'No Such Person as Goo Pil-soo,' starring Kwak Do-won and Yoon Doo-joon, which will air on the 4th of next month, this year will also feature 'Extraordinary Attorney Woo,' 'Good Job,' and 'Eoljuka Yeonae Ddawi' (Frozen to Death Love, etc.). Next year, 'Bakssal Girl' will be introduced through global online video services (OTT), and StoryWiz-operated 'Blythe,' a popular web novel adaptation, will present 'Lord of Money' as a seasonal series.

Olleh TV is curating its content lineup considering the platform's characteristics, which allow freedom in themes and expressions and enable viewers to select content directly. Representative titles include 'Gaus Electronics,' based on a famous webtoon, as well as Japanese novel adaptations like 'Paper Moon,' 'New Recruit,' and 'I Don't Want to Do Anything.'

Kim Cheol-yeon, CEO of KT Studio Genie, said, "Over the past year, we have focused on securing original intellectual property (IP) and strengthening production capabilities to build the foundation for presenting KT's differentiated content." He added, "Starting this year, we will showcase KT Studio Genie's well-made dramas and expand distribution channels and production spectrum with various domestic and international partners."

Channel 'Sky' Reborn as 'ENA'

Yoon Yongpil, CEO of SkyTV, is explaining the relaunch of the 'ENA' brand.

SkyTV, together with Media Genie, will reorganize their core channels into four: ▲ENA ▲ENA DRAMA ▲ENA PLAY ▲ENA STORY. SkyTV's flagship channel Sky will become ENA, NQQ will be renamed ENA PLAY, and Media Genie's DramaH and TRENDY will be changed to ENA DRAMA and ENA STORY respectively, offering content tailored to each channel's characteristics.

Additionally, SkyTV will secure about 30 dramas and produce around 300 variety shows in-house. The resources secured from the success of variety programs like 'Steel Troops' and 'I Am Solo' will be reinvested. For example, the popular variety show I Am Solo will be linked to a spin-off version tentatively titled 'I Am Couple' and also adapted into a drama. Yoon Yong-pil, CEO of SkyTV, said, "SkyTV will strengthen ENA's brand competitiveness through synergy with Media Genie, which joined KT Group last year. We will expand original content and grow into a brand valued at 1 trillion KRW by 2025, aiming to become a global IP business."

Accelerating Content Cooperation with CJ ENM

KT has been accelerating cooperation since signing a comprehensive partnership with CJ ENM last month for content collaboration. The show 'Please Take Care of This Week,' premiering on the 2nd of next month, is the first co-production between SkyTV and tvN Story, directed by PD Moon Tae-joo of 'Sumi's Side Dishes,' depicting the stories of office workers. CEO Yoon said, "We proposed the planning to CJ ENM, and both companies are investing 50-50. It will be broadcast simultaneously on both companies' channels."

Currently, KT and CJ ENM have established a mutual cooperation committee and are discussing various collaboration plans. Kang Guk-hyun, KT President, said, "We are cooperating in content production, including co-producing variety programs with CJ ENM." He added, "The mutual cooperation committee will include many top-level executives from both companies, though the specific list has not yet been finalized." They also plan to establish a joint fund to develop related technologies such as immersive media, keeping pace with future changes in the media industry like the emergence of virtual reality (VR) technology.

However, KT maintains that there is no decision yet regarding the possible integration of KT's OTT 'Season' and CJ ENM's affiliated 'TVING.' There have been market speculations that Season might be acquired by TVING. Regarding this, Kang said, "Nothing has been decided yet. However, we are reviewing cooperation among domestic native OTTs in various ways."

Kang Guk-hyun stated, "KT is the only company in Korea with a strong content business infrastructure like the KT Group media value chain. Based on our success in media platform business, we will continue to grow in the content business and contribute to raising Korea's status in the global market."

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