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Jerry Ko, CJ Entertainment’s head of international film business, said: “Library Pictures International has an unequivocal understanding of how to model local-language productions and deliver hits. “CJ Entertainment has a well-developed and highly-ambitious film business that compliments Library’s mission to amplify the work of talented creators around the world.” “CJ Entertainment has been a powerful supporter of creative voices, not only in Korea but in several markets around the world, using their resources and expertise to promote locally-relevant stories and talent,” said David Taghioff, who heads LPI. The Korean company has been involved in films such as Joko Anwar’s hit horror film Satan’s Slaves in Indonesia some of the highest-grossing local films in Vietnam including Sweet 20, a remake of the Korean film Miss Granny and top-grossing films such as Aile Arasinda and Koğuştaki Mucize in Turkey.
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South Korea’s leading film studio CJ Entertainment and LA-based local-language content financier Library Pictures International (LPI) have entered into a multi-year, multi-picture slate co-financing deal covering local-language film productions in Indonesia, Vietnam and Turkey.Ĭoming on the heels of CJ Entertainment’s multiple Oscar wins with Bong Joon Ho’s Parasite, the deal will see LPI fund up to 50% of the budget of CJ Entertainment-led local-language productions in each of these three markets where CJ has been investing with an interest in the territories’ rapid growth.