[Showbox Day] ① US MCG Invests 140 Billion KRW to Discover IP Combining Metaverse and NFT

Showbox's Global Leap Vision
Secures 140 Billion KRW Investment from US MCG
Strengthening K-Content Competitiveness by Supporting Creators
"Aiming to Establish Presence in Global Markets Except Korea"
"Will Reach an Unprecedented Industry Level"

CEO Do-su Kim / Photo by Showbox

[Asia Economy Reporter Lee Isul] How will K-movies and K-content evolve? Showbox, established in 2002 and encompassing film planning, production, and investment, is embarking on a new challenge. In April, it secured an investment of approximately 140 billion KRW from the U.S. investment firm MCG (Maum Capital Group, hereafter MCG) and is now making a full-scale expansion into the global market. Utilizing K-content intellectual property (IP) and production networks, Showbox is determined to launch a new business specializing in next-generation platforms such as the metaverse and NFTs, in collaboration with MCG, which possesses a next-generation platform business network in Silicon Valley.

Showbox CEO Kim Dosu held a media day at 11 a.m. on the 15th at the Grand Ballroom of Seoul Dragon City in Yongsan-gu, Seoul, stating, "We will pour the energy we have accumulated to successfully attract new business." MCG Chairman Brain Koo, who led the investment, said, "I persuaded them that Korean content is better than Hollywood," and viewed it not as persuasion but as a natural phenomenon. He added, "K-content has the power to win in the global market and will definitely win," expressing confidence by saying, "We will do everything to help Showbox take the lead."

Showbox has produced five films that surpassed 10 million viewers, starting with "Taegukgi" (2004), followed by "The Host" (2006), "The Thieves" (2012), "Assassination" (2015), and "A Taxi Driver" (2017). It has also presented works that combine popularity and artistic value such as "The Face Reader" (2013), "A Hard Day" (2014), "The Throne" (2015), "Inside Men" (2015), "Gonjiam" (2018), and "The Man Standing Next" (2020). Additionally, in 2020, through the JTBC drama "Itaewon Class," Showbox demonstrated its production capabilities by achieving great success not only domestically but also in Japan and overseas.

CEO Kim explained, "K-content has been gaining worldwide attention for several years. 'Squid Game' was also created by creators who have produced films," adding, "Showbox is a company that has focused on films for over 20 years, and having a network with film creators is a strength." He emphasized, "The essence of the content business is to create fun and good content."

Chairman Koo expressed confidence during the announcement, saying, "We will look at the global market and go global," and stated, "Our goal is to remove the 'K' from K-content." He continued, "In Korea, large corporations are leading, and excellent founders and artists are doing well. Korean content has the power to win in the global market, and we will do everything we can to help."

Showbox announced plans to create a content production and distribution environment where creators can sustain their creative activities amid the evolving content consumption environment and IT platform technologies. Presenting a "creator-centered virtuous cycle business model," it aims to lead the expansion of K-content in next-generation platforms and the global market.

By establishing solid partnerships with creators, who are the core of the content industry, Showbox plans to create a structure where creators' imaginations can themselves become business models and content within new content paradigms such as the metaverse. To this end, it will form a planning and creative group to reliably discover and materialize creators' ideas, building a process where original IP can expand into super IP. Moving beyond the traditional roles of content planning, production, and distribution, Showbox is committed to growing together as a facilitator and supporter.

CEO Kim stated, "We will spare no effort to assist and support creators so that they can freely express their imagination beyond the constraints of conventional frameworks, in new content environments realized by advanced IT technologies," and added, "Through a creator-centered business model, Showbox will take the lead in strengthening the competitiveness of K-content in the global market."

Furthermore, Showbox plans to fully engage in discovering valuable IP that can be combined with metaverse and NFTs, which represent Web 3.0. Through this, Showbox is expected to create an environment where a single IP can be connected and expanded without limitations of format, platform, or borders, and be reborn as new content.

Although the two companies outlined their vision for new business, they were reserved about specific business details. Chairman Koo hinted, "We will break free from existing paradigms and unleash tremendous potential," adding, "We want to plan at a level the industry has never seen, beyond a single service." He concluded, "We will be fully prepared before sharing more details."

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