Korea’s CJ ENM Buys Stake in U.S. Tech Firm AmazeVR

Patrick Frater Asia Bureau Chief The free concert by K-pop sensation BTS in Busan, Korea, was viewed by upwards of 49 million people on Saturday. The free-of-charge “BTS ‘Yet to Come’ in Busan” concert was held in support of Busan’s bid to host the 2030 World Expo and represented an attempt to introduce the city and Korean culture to global audience. After a change of venue, the physical component was held at the city’s Asiad Main Stadium and attracted some 50,000 in-person guests. An additional 10,000 people in the city watched a live retransmission at the Busan Port, and a further 2,000 gathered in Haeundae, the tourist area that recently played host to the Busan International Film Festival.

Patrick Frater Asia Bureau Chief Blackstone Publishing, Aethon Books and Sterling and Stone are among the first publishing partners to join Yonder, a new serialized fiction app combining mobile reading, a serialized experience and thousands of curated stories. Then venture is being launched by South Korea’s Naver, the tech giant that owns Webtoon and Wattpad, the story app that has germinated scores of book-to-film adaptations. The platform offers an ad-free reading experience with several chapters of each story available for free before readers are offered the chance to unlock additional material using virtual coins. At launch, Yonder is the home of exclusive new titles including “Bound to the Shadow Prince,” from Ruby Dixon, the international best-selling fantasy author of the TikTok viral sensation series “Ice Planet Barbarians”; “Bitten by Desire,” the first paranormal romance from best-selling author Ivy Smoak, (“The Hunted” book series”; and “Gravesong,” a spinoff of the popular web serial “The Wandering Inn,” from pirateaba.

Patrick Frater Asia Bureau Chief SM Entertainment, one of the leading agency groups in Korean entertainment, said Friday that it will terminate a contract with Lee Soo-man, a year early, at the end of 2022. “SM Entertainment [..] will sever ties with its chief producer Lee Soo-man at the end of this year,” Yonhap news agency reported on Friday. Lee was one of the key figures in the early discovery of Korean pop talent in the mid-1990s, developing the agency system that has hatched numerous idol groups, and has remained one of the biggest executive names in the K-pop business. The four leading agencies are brand names in their own right, organize concerts for their stables of performers, and maintain a far more visible presence than music management firms in most other countries.

Patrick Frater Asia Bureau Chief Korean film “A Wild Roomer” and India’s “Shivamma” have been announced as the joint winners of the New Currents competition, the prestige discovery section of the Busan International Film Festival. “We were particularly sensitive to the lightness and subtlety of the director’s view of his characters. Through his innovative cinematography, he creates original circulations between the characters within a house, and builds a very contemporary universe,” the competition jury said of the Lee Jeon-hong-directed “A Wild Roomer.” “We appreciated the originality and intensity with which the director was able to tell this very contemporary story. Here documentary and fiction meet in an organic and spirited way of making cinema. The generosity of the actors and the scenes create a closeness with this universal story that takes place in an Indian village,” the jury said of the Jaishankar Aryar-directed “Shivamma.”

The owner of the iconic Kendals department store in Manchester has bought a stake in a fashion brand in the city. Frasers Group, which also owns Sports Direct, has snapped up a 4.54% stake in N Brown, whose brands include Simply Be, JD Williams and Jacamo.

Patrick Frater Asia Bureau Chief “Future Laobans,” a project directed by Maung Sun and produced by Maung Sun and Ma Aeint, claimed the Busan Prize, the top award at the Asian Project Market, on Tuesday. The awards were made at an event held at the Paradise Hotel in Busan’s Haeundae district at the end of three days of quick-fire meetings between producers and directors and an array of potential co-producers, financiers and distributors. Organizers said that they put together 705 such one-on-one meetings. The CJ ENM Award went to Indonesia’ “Gaspar,” to be directed by Yosep Anggi Noen and produced by Yulia Evina Bhara and Cristian Imanueli.

Patrick Frater Asia Bureau Chief Comedy action film “Confidential Assignment 2: International” claimed its fifth successive weekend victory at the South Korean box office as only U.S. horror film “Smile” was able to break into the top five.The CJ Entertainment-distributed “Confidential Assignment 2” managed $1.64 million over the Friday to Sunday period, according to data from Kobis, the tracking service operated by the Korean Film Council (KOFIC). That represented a 27% share of the market. “Confidential Assignment 2” recorded a 27% weekend on weekend decline. That pushed its cumulative total to $47 million, earned form $6.52 million ticket sales since release on Set. 7, 2022.

Patrick Frater Asia Bureau Chief Korean indie production house, IMTV is developing and will produce a drama series based on the New York Times best-selling novel, “The Island of Sea Women” by Lisa See.  The story is set largely on the remote Korean island of Jeju, among the community of ‘haenyo,’ women who earn a living by free diving for mollusks, seaweed and other sea life from the depths of the ocean. Representatives of a rare semi matriarchal society, the women work while the menfolk typically stay at home, though property is passed down along male lines. Celebrated activist and Nobel Prize-winner Malala recently boarded a documentary project about the haenyo of Jeju that is set up at the A24 U.S. indie studio.

Rebecca Souw The Astory-produced “Extraordinary Attorney Woo” claimed the ‘Best Content Award’ Saturday at the fourth edition of the Asian Contents Awards in Busan. The hit show’s lead actress, Park Eun-bin bagged the best actress award, thrilling assembled local fans. The ceremony took place outdoors at the BIFF Theater at the Busan Cinema Center, on the sidelines of the Busan International Film Festival. With the venues filled to almost 80% capacity, the best of Asia TV, OTT and online content were presented with a total of 12 awards.

Patrick Frater Asia Bureau Chief Japan’s Toei Animation and Korea’s CJ ENM unveiled a volley of new projects on Saturday flowing from their previously-established cooperation pact. The new shows include: a series that will be produced in both live action and animated formats; a live action series; and a third animation series. “The genesis of this co-operation was the notion that we should play to the strengths of Korean content and Japanese animation,” said Yi Jongmin, the CJ executive who heads the joint venture’s shared control unit. “That was before we factor in language barriers and cultural differences and suffered the disruptions of the COVID pandemic.”

Patrick Frater Asia Bureau Chief Korean sales agent Finecut has added “Secret: Untold Melody” and “The Dinner” to its burgeoning Asian Contents & Film Market slate. Both titles are sourced from a deal with Hive Media Corp. (“Inside Men,” “The Man Standing Next”). An adaptation of 2007 Taiwan hit “Secret,” “Secret: Untold Melody” is a romance film about pianist and a student. While the original film starred Jay Chou and Gwei Lun-mei, the Korean retread stars Doh Kyung-soo (a.k.a D.O. from celebrated K-pop group EXO) who has acting credits including “Swing Kids” and the “Along With The Gods” franchise, and rising star Won Jin-a (“Netflix’s “Hellbound”). Now in post-production, the film is directed by Seo You-min (“Recalled”).

Rebecca Souw CJ ENM, which includes Korea’s largest film producer and distributor, is using the Asian Contents & Film Market this week to launch a handful of new titles while basking in its recent box office and festival successes. “The Boys” gets its premiere as a special screening withing the Busan International Film Festival’s expanded Korean Cinema Today section. This crime drama delves into the lives of three teenage boys, falsely accused and jailed for a brutal robbery-murder case. Fifteen years later, they seek a retrial in a bid to prove their innocence.

Patrick Frater Asia Bureau Chief Japanese director Miike Takashi, who is known for slasher film “Ichi The Killer” and stomach-churning “Audition,” Friday claimed that he does not like bloody horror scenes. “I’m not a fan of bloody scenes. But that’s what I’m known for. And it is what I get offered. It’s what I was offered by [Korean TV studio] Studio Dragon,” said Miike at a press event in Busan to launch his new genre series “Connect.” The show premieres in the Busan International Film Festival’s series section and will release as a Star Original on the Disney+ streaming service.

Patrick Frater Asia Bureau Chief Korean sales firm, Finecut is using the Asian Contents & Film Market on the sidelines of the Busan International Film Festival to launch comic action film “Brave Citizen.” The film, now in post-production, is an adaptation of a webtoon which ranked first in popularity when it was serialized on the platform Comico. It was later serialized on another Korean platform Naver Webtoon and recorded 2.27 million views on its Line Webtoon platform in Taiwan. It tells the tale of female former boxing champion who has become a substitute high school teacher. Having witnessed intolerable violence, she dons a mask and throws her first punch for justice.

Patrick Frater Asia Bureau Chief Manta Comics is to release a webcomic adaptation of “A Hard Day,” a Korean action thriller film from 2014 originally directed by Kim Seong-hun. In Manta’s adaptation, the protagonist Ko Gunsoo has been recreated as a female detective, and the story begins when she accidentally hits a homeless person with her car shortly after her mother’s death. Unwilling to catch a manslaughter charge, Gunsoo hides the body in her mother’s casket. A mysterious stranger soon arrives, claiming knowledge of the hit-and-run, and Gunsoo finds herself embroiled in a shady police corruption scandal.  The 2014 movie was produced by AD406 and distributed internationally by Showbox / Mediaplex.

Patrick Frater Asia Bureau Chief Hong Kong multi-hyphenate Peter Chan Ho-sun is far too intellectual to call himself an “arms dealer,” as Sony Pictures has in casting itself as an unattached supplier to streaming platforms. But politeness and Bob Dylan references aside, Chan’s new company, Changin’ Pictures, aims to become a major independent purveyor of premium Asian TV content for the streamers. The company is using this week’s Busan International Film Festival as its launchpad and will unveil the first five series of its 20-title pan-Asian slate.  Chan’s thesis is that global audiences are hungry for Asian content but have not been able to access it easily under legacy film and TV distribution systems. With streaming making everything accessible everywhere, and audiences no longer balking at subtitles, quality Asian drama can and will travel.

Patrick Frater Asia Bureau Chief Next month’s London Korean Film Festival cloaks itself in a panoply of the country’s recent cinema, with a mix of commercial blockbusters, festival titles and documentaries. The long-running event also pays tribute to Kang Soo-youn, the performer who was the first Korean to win a best acting award in Venice and who died in May this year. The event runs from Nov. 3 – 17, 2022 in venues across London and comprises 35 films. It opens with a previously announced screening of “Alienoid.” The Cinema Now section includes: Jeong Ji-yeon’s psychological thriller “The Anchor”; Davy Chou’s “Return To Seoul,” which premiered in Cannes’ Un Certain Regard; Byun Sung-hyun’s “Kingmaker”; “Hot Blooded,” the long-awaited directorial debut by acclaimed novelist and screenwriter Cheon Myeong-kwan; nostalgic road chase movie “Stellar: A Magical Ride”; “Director’s Intention,” by Kim Min-geun.

Patrick Frater Asia Bureau Chief Comedy action film “Confidential Assignment 2: International” remained at the top of the South Korean box office for the fourth consecutive weekend. Its enduring success came despite a slew of new releases intended to catch the National Foundation Day holiday weekend traffic. Between Friday and Sunday “Confidential Assignment 2” garnered $2.19 million from 304,000 ticket sales, and a market share of 29%. The weekend earnings lift it to a $43.3 million cumulative since release on Sept. 7, 2022. It is only the fourth film this year to have passed the six million spectators mark and the third Korean film to do so, following “The Roundup” (12.7 million) and “Hansan: Rising Dragon” (7.26 million).

Patrick Frater Asia Bureau Chief KC Global Media, which operates a string of channels across Asia including AXN, anime channel Animax, South Korea’s ONE and Japanese entertainment channel GEM, has unveiled its first script development of a sci-fi live action series, “Jonesy.” The show is a sci-fi fantasy thriller action-comedy series set in the year 2029, with eight episodes of 15-20 minutes each. Production will be with Singapore-based production agency, Monochromatic Pictures, while development is supported through the Capability Partnership Programme (CPP) operated by the country’s Infocomm Media Development Authority. The show sees an internet crazy shut-in man driven to extremes by violent weather systems which carry with them supernatural beasts intent on devouring humankind. With his imaginary friend, the man learns to navigate the new world alone, confront his fears, battle colorful foes, and become humanity’s new hope when he kills one of the monsters during a livestream.

Patrick Frater Asia Bureau Chief Online video is taking up the role of growth engine for the Asia Pacific video industry as free-TV in the region moves into long-term decline, says a new report. The video sector is forecast to remain robust this year, but recession could deal a blow to sector performance in 2023. Video sector revenues – defined as subscription fees and advertising generated by free TV, pay-TV and online video platforms – in 14 Asia-Pacific markets are forecast to will grow by 6.4% in the current year to reach $143 billion, according to Media Partners Asia.