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Earlier this month, VFX powerhouse Dexter Studios revealed that it had signed a Memorandum of Understanding (MOU) with Korean film studio Megabox Plus M to jointly develop and produce Korean films and series.

The outfits will join forces to create Korean digital content and grow their in-house teams of directors and writers to develop intellectual property. In addition to partnering strategically to foster additional business through IP, the deal also covers post-production services, with Dexter providing VFX, color correction and sound services for future Megabox titles.

Dexter Studios, which was initially founded by filmmaker Kim Yonghwa to provide visual effects for his 2013 film Mr. Go, quickly rose to become the top VFX and post-production company in the Korean film industry. In addition to providing award-winning effects for major Korean and Chinese blockbusters, Dexter has in recent years edged into film production as well, jointly producing films such as Kim’s hit Along with the Gods films, the disaster drama ASHFALL (2019) and Ryoo Seungwan’s acclaimed Escape from Mogadishu (2021).

A sister company of the exhibition outfit Megabox, Megabox Plus M has been investing in Korean commercial films since 2014. Following successful early titles such as Dongju: The Portrait of a Poet (2016) and Little Forest (2018), Megabox has eyed more and more ambitious projects. Their upcoming slate includes Yim Soonrye’s hostage drama The Point Men with Hwang Jungmin and Hyun Bin.