Gu Chang-geun, CEO of CJ ENM, "CJ Film Investment Suspension? Not True"

Speech at Busan International Film Festival on 1st Anniversary of Inauguration
Ambition to Pioneer Overseas Market in Film Industry
Yoon Je-kyun, Lee Sung-min, Yoo Yeon-seok, Yoo Tae-oh and Others Attend

"The global market is a path we must take, even if it costs money and time."

On the 6th, Koo Chang-geun, CEO of CJ ENM, made this statement at the 'A Cinematic and Dramatic Night of CJ' event held at the Paradise Hotel in Busan during the 28th Busan International Film Festival. He expressed his determination to seek solutions to overcome the crisis in Korean cinema through the global market.

Koo Chang-geun, CEO of CJ ENM [Photo by CJ ENM]

CEO Koo said, "For over a decade, CJ has been planting various seeds in the global market, from Hollywood in the United States to Southeast Asia, and we are now seeing the results."

CJ ENM stepped into the global market in 2007 by investing in 'August Rush,' produced by Warner Bros. in the United States. They have participated in the investment and production of over 100 films in China, Japan, Vietnam, Indonesia, Thailand, and T?rkiye. 'Fast Lives,' unveiled this year in Busan, is a film co-produced by CJ ENM and A24, a recently prominent studio in Hollywood.

He also expressed his commitment to revitalizing the Korean film investment market, which has been subdued since the COVID-19 pandemic. CEO Koo emphasized, "The rumor that CJ is quitting film investment is not true." He added, "Our belief that creating a healthy investment ecosystem to bring quality films to the world is an important mission of CJ ENM has not changed." Given the changed market profitability and risks, CJ ENM intends to build an investment model suitable for the transformed market and try new collaboration methods to help quality films reach the market.

CEO Koo stated, "Considering changes in consumer viewing behavior and the associated business risks, we will also pursue many changes in how films meet their audiences." By closely analyzing market changes such as altered audience flow based on data, they plan to find insights necessary for the film business and expand the Korean film market through various domestic and international platforms and channels secured by CJ, including TVING.

The event featured speeches by Yoon Je-kyun, Head of CJ ENM Studios Content, Choi Joo-hee, CEO of TVING, and Ko Kyung-beom, Head of CJ ENM Film Business Division. CEO Yoon expressed strong determination, saying, "We will turn the crisis in the film industry into an opportunity and overcome it."

Additionally, the event was attended by lead actor Yoo Tae-oh of the film 'Fast Lives,' director Pil Gam-seong of the TVING series 'Unsuojinnal,' actors Lee Sung-min, Yoo Yeon-seok, Lee Jung-eun, and directors Lim Dae-hyung and Jeon Go-un of 'LTNS.'

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