Korea’s CJ ENM and its production subsidiary Studio Dragon, along with Naver Webtoon’s affiliated company Line Digital Frontier are partnering on a Japan-based joint venture under the tentative name Studio Dragon Japan. The new production studio will be established in the first half of this year, with 30 billion won ($23 million) invested by the three entities.
Studio Dragon Japan’s stated goal is to be become the market’s leading production company by delivering premium content based on CJ ENM and Studio Dragon’s expertise combined with Line Digital Frontier’s premium original IP. The new company will encompass all stages of content production from development and investment to production and distribution.
Studio Dragon is Asia’s largest scripted television studio with over 183 global premium IPs, and produces about 30 series every year distributed via various platforms. The studio is known for such popular series as Crash Landing On You, Hotel Del Luna and Sweet Home. Line Digital Frontier is an affiliated company of Naver Webtoon and is the top webcomic platform in the Japanese digital market operating webcomic service Line Manga.
CJ ENM, Studio Dragon and Line Digital Frontier will look to create synergy to deliver premium content in a short span of time.
The venture is part of Korean media giant CJ ENM’s strategy to expand its multi-studio structure internationally. Studio Dragon Japan will mark the company’s fourth production studio alongside Studio Dragon, Endeavor Content and the recently announced CJ ENM Studios. With the addition of Studio Dragon Japan, CJ ENM now holds production studios in Korea, the U.S., and Japan.
Kang Cheolgu, Executive Officer of Japan Drama Business at CJ ENM, said, “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, 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 entered into a partnership in October 2020 and have since produced Sweet Home and Yumi’s Cells based on the latter’s IP.