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Mogul Producer, Actor Eye Joint Drama Agency

First production to be school drama series "Dream High".

Singer and producer J.Y. Park (37) and star actor Bae Yong-jun (37) announced Tuesday they will jointly establish a comprehensive entertainment content production corporation.

Park's JYP Entertainment and Keyeast, whose largest shareholder is Bae, will produce the tentatively titled Dream High. The two companies will set up a joint corporation this month and proceed with casting, auditions and the production.

Set to air in the first half of 2010, the story depicts the life of students attending an entertainment and art school. Their singing, dancing and acting will be worth watching, and the show will depict the reality of the entertainment industry.

Park and Bae will take part in the production in one way or another. The Korean, Asian and US media are showing keen interest in the collaboration of their dual star power.

Park will help with the musical aspects and the vocal and dance training of the actors while Bae will be involved in the overall producing. Novice actors, singers and entertainers will be chosen through major auditions. Other drama-related business projects are also being planned.

A JYP Entertainment official said, "JYP is happy to advance to the visual entertainment field with a good partner", and noted Park's passion in the project. Park said he will personally write the music and choreograph dances as the general director. He said the drama will be JYP's key project for this year.

A Keyeast official cited "the two agencies' strength in management skills of actors and singers and their experience in branching out to the US and Japan". He said their joint expertise, network and meticulous strategy will help to create world-class Korean content with global appeal.

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