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CJ E&M Buys Top Producer JK Film

CJ E&M, South Korea’s leading integrated entertainment and media group, has taken a majority stake in production company JK Film.

JK, headed by Yoon Je-kyun, has previously delivered hits including “Haeundae” and “Ode to my Father” for CJ in previous years.

CJ previously held a 15% stake in JK. By buying an additional 36%, it will have a 51% majority position, according to Yonhap. The news agency reports that the stake cost CJ some $13 million.

The deal is intended to cement CJ’s position in film-making and comes after a difficult year in which some of CJ’s anticipated hits, notably “Seondal” and “The Map Against the World,” disappointed at the box office. JK sees the deal as enhancing its position in international markets.

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