MOU establishes a formal relationship
SEOUL – South Korean major CJ Entertainment and China Film Group Corp signed a memorandum of understanding on Thursday to jointly produce Korean and Chinese-language feature films.
The MOU, which was signed during the Shanghai International Film Festival, establishes a more formal relationship between the two sides, which have been in active contact in recent years.
A initial two projects are currently being prepped, with one expected to go into production by the end of the year. The co-produced films are expected to involve a considerable exchange of talent in front of and behind the camera, in addition to joint investment.
The two sides are also considering producing remakes of popular Chinese or Korean titles.
CJ, which opened a Beijing subsidiary in 2005, has also become more active in co-distributing foreign titles in China, including “Shrek the Third” which will be rolled out digitally in August.