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Merger unites makers of 'Shiri', 'JSA' movies

2004/01/28 | Permalink | Source

Two of the biggest names in Korean film production are set to combine forces with a major corporation to launch a new entertainment company likely to emerge as a key player in the local film industry.

KangJeGyu Films, the maker of "Shiri" (1999), and Myung Films, the maker of "JSA" (2000), announced plans Monday to merge with Seshin Buffalo, the nation's largest manufacturer of hand tools, to create a cultural contents company to be called MK Buffalo.

The move is expected to provide Seshin Buffalo an opportunity to enter the entertainment business while securing a stable source of financing for the two film production companies.

MK Buffalo will be the first film production company in Korea to be listed on the Korea Stock Exchange. Giants of the local film industry such as CJ Entertainment and Sidus are currently listed on the KOSDAQ.

The merger brings a number of influential figures in Korean cinema under one roof, including directors Kang Je-gyu and Lee Eun, and producer Shim Jae-myung.

Last year, Myung Films made "A Good Lawyer's Wife", which performed well at the box office while earning decent reviews. KangJeGyu Films is placing great hopes on its much anticipated Korean War epic "Taegukgi" set to be released Feb. 6.

By Kim Jin

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