CJ ENM Acquires Minority Stake in Hyperreal

"Strengthening New Growth Engines... Securing New Technologies Through Continuous Investment"

CJ ENM announced on the 2nd that it has acquired a minority stake in Hyperreal, a US-based metaverse entertainment company. Hyperreal is a digital human (virtual human) production specialist founded in 2019 by Remington Scott, who won the 2005 Academy Award for Visual Effects for "Spider-Man 2." The company has created avatars for various content such as the movies "The Lord of the Rings" and "The Matrix." It also develops various 3D digital technologies. One of its proprietary technologies is HyperModel, which realizes real people as hyper-realistic 3D digital avatars. This technology enables human-like acting and performances without age or language limitations. Representative examples include the music video "Find My Way," featuring singer Paul McCartney appearing in his younger form, and the avatar presented by singer-songwriter Madison Beer in a virtual concert. CJ ENM plans to accelerate new digital businesses and collaborations that can be operated across digital platforms, including these technologies. Kang Ho-sung, CEO of CJ ENM, stated, "Securing components such as digital humans, immersive devices, and VFX is an essential element to strengthen metaverse competitiveness," adding, "We will continue to invest in strengthening new growth engines and acquiring related technologies."

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