CJ ENM and its Studio Dragon production subsidiary are forming a Japanese production and distribution venture in partnership with Naver Webtoon’s LINE Digital Frontier.
The tentatively named Studio Dragon Japan is being set up in the first half of the year, with the partners committing 30 billion won ($23 million). This is CJ ENM’s fourth production studio, following the launches of Studio Dragon and CJ ENM Studios and its acquisition of Endeavor Content.
Kang Cheolgu, executive officer of the Japan drama business at CJ ENM, commented, “Based on CJ ENM and Studio Dragon’s global network and presence, Studio Dragon Japan will serve as the bridge between top content creators in Korea and Japan and will act as a gateway for these top IPs to enter the global market. Studio Dragon Japan will produce premium content targeted for global channels, including streaming platforms.”
Kim Sinbae, head of Line Manga, Naver Webtoon’s Japanese business, added, “With the establishment of this joint venture, we have secured an IP value chain that can bring to life webtoons to video content in Japan. We will promote the excellence of webtoon IP through high-quality dramas aimed at the global market and solidify our position as the forerunner in the entertainment industry.”
CJ ENM and Naver previously collaborated on Sweet Home and Yumi’s Cells, based on Naver Webtoon IP.