Korea's Leading Entertainment Group CJ E&M and Vietnamese Television (VTV) Signed Cooperation Agreement for Cultural Exchange
- Aiming to broadcast fall season in 2014, CJ E&M coproduces TV drama with Vietnamese Television for the first time in Korean broadcast history
- Initiating cultural exchange between Korea and Vietnam, 'K-Culture Beltline' is established across Korea, China and South East Asia!
Korea and Vietnam are accelerating cultural exchange through coproduction of TV drama.
On September 5, Korea's leading total content company CJ E&M (Kang Seok Hee, CEO) announced that they signed a cooperation agreement regarding coproduction of TV drama with Vietnam Television (hereafter VTV).
Owned by the government of Vietnam, VTV is the national television broadcaster of Vietnam. CJ E&M and VTV aim to strengthen cultural exchange and production ability between the two countries by signing the agreement to coproduce TV drama. Especially, CJ E&M VTV are expected to provide their utmost support for coproduction since it is the very first coproduced drama for both countries.
The drama will be a story of lives of young students in Korea and Vietnam to target a young audience in Vietnam. CJ E&M and VTV are co-investing and coproducing the art on a 50:50 ratio, and this will be broadcast on a total entertainment channel VTV3, the highest-rated channel of VTV.
Through this agreement, CJ E&M takes one step forward to establish 'K-Culture Beltline' connecting Korea, China, Hong Kong, Vietnam, and Indonesia with cultural content. Until now, CJ E&M has proactively introduced various Korean contents such as films, TV shows, live performances and more throughout those countries.
Its professional strategy to localize original Korean contents has been noticeably successful. For example, 'A Wedding Invitation (分手合约)' made the biggest box-office success with profits of 191.9 million Yuan in China as a joint production of Korean and Chinese film companies. 'Superstar China (我的中国星)' based on renowned Korean singing survival show 'Superstar K' is on air in great success via Hubei TV that owns 800 million viewers. 'Finding Mr. Destiny', the original Korean musical to be performed in China for the first time, achieved success as well. In addition, CJ E&M and Super Jet Entertainment coproduced Chinese-Korean idol group 'TimeZ', exporting K-Pop culture worldwide by localizing Hallyu.
In South East Asian countries around Hong Kong and Indonesia, CJ E&M runs a prominent entertainment channel 'Channel M' to reach over 6 million households in 10 countries: Taiwan, Hong Kong, Singapore, Malaysia, Thailand, Philippine, Indonesia, Myanmar, Cambodia, and Australia.
At the end of the year, CJ E&M annually hosts MAMA (Mnet Asian Music Awards), the best and largest music awards in Asia to spread popularity of K-Pop worldwide. Meanwhile, this Korea-Vietnam joint production project completes the missing part of 'K-Culture Beltline' that connects North and South East Asia, introducing Hallyu to 1.7 billion people in the region.
CJ E&M's CEO Kang Seok Hee notes, "It is a stepping stone for cultural exchange between Korea and Vietnam to enhance mutual benefit and progress in terms of production ability through this first joint production", and also "Among South East Asian countries, Vietnam has the highest growth potential in cultural content due to a number of young people. I will dedicate my best efforts to expand on non-governmental interchange between the two countries to help their culture industry flourish.
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