Taecjin Lee Hyung expands its territory with’Enter’ Started the K-pop platform in partnership with CJ

Input 2021.01.05 11:55

Established a joint corporation within this year with CJ ENM
Fostering Naver and Big Hit fighters with the K-pop platform’Universe’

Ahead of entering the entertainment industry NCsoft (036570)Will establish a joint venture within this year in partnership with CJ ENM.

It is analyzed that NCsoft’s IT technology and CJ ENM’s entertainment business know-how are combined to empower NCsoft’s K-pop entertainment platform’Universe’, which will be simultaneously introduced to the global market in the first quarter of this year (January-March).

NCsoft (036570)Announced on the 5th that it has signed a memorandum of understanding (MOU) with CJ ENM for business cooperation in the fields of content and digital platforms. The two companies will establish a joint venture within this year.

Industry sees that NCsoft’s upcoming universe will serve as an opportunity to strengthen competitiveness through this cooperation.

Universe is an all-in-one platform where you can enjoy various online and offline fandom (enthusiastic fans) activities on mobile. As of last month, the number of advance reservations exceeded 1 million in 186 countries. The universe is seen by the industry as a counterhorse to Naver’s’V Live’ and BTS’s agency, Big Hit Entertainment’s’Weverse’.

NCsoft is expressing its ambition to enable K-pop artists and fans to enjoy new experiences with IT technology differentiated from other companies such as AI (artificial intelligence). For example, it presents entertainment such as AI speech synthesis, motion capture, and character scan by artists.

Kim Jung-ha, head of the entertainment business division, who is in charge of the universe business at NCsoft, said, “As the two companies have different competencies, I think we can achieve meaningful results through synergy.”

“We plan to lead the trend of the future entertainment industry, where the importance of technology is increasing, by combining CJ ENM’s content production and business capabilities with NCsoft’s IT platform-based business capabilities.”

Recently, NCsoft is reaching out to baseball and securities businesses in addition to its main business, the game business. It is intended to utilize the original IT technology in various industries. NCsoft also launched a joint venture with KB Securities last year to advance into an AI simple investment securities company.