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Korea’s Next Entertainment World (NEW), a film investment and distribution company, held a two-day long company introduction presentation in Beijing. On April 23rd and 24th, NEW received a warm welcome for its first international presentation where big name companies such as Huayi Brothers, Alibaba Pictures, and other media-related organizations were in attendance. The main focus of the event was a discussion about future Korea-China partnerships.

 

China’s Huace Media Group and NEW made an investment deal at the end of last year worth KRW 53.5 billion (approx. USD 49.65 million). This led to the expansion of the company which ultimately landed NEW an official listing in the Korean Stock Market (KOSDAQ). The two organizations are currently in the process of establishing a collaborative corporation. As NEW will be more active in the Chinese industry in the coming years, the company presentation was organized in order to meet and build relationships with the key players in the country.

 

A company must be recognized as a Qualified Domestic Institutional Investor (QDII) in order to fund international projects. In previous years, most Korean professionals were in contact with Singapore or Hong Kong as many companies in Beijing lacked QDII permits. However, NEW continued to search for new windows by finding stock firms and funding companies and successfully encouraged them to get the QDII permits.

 

NEW continues to strive for new ventures and has most recently become active with its new sales arm, Contents Panda, which manages the subsidiary content. NEW previously distributed hit films such as Miracle in Cell No.7 (2013), The Attorney (2013) and Pieta (2012).