Our goal is to remove ‘K’ from ‘K-content’: Brian Koo, Founder of MCG
Kim Do-soo (left), CEO of Showbox, and Koo Bon-woong, chairman of Silicon Valley-based investment firm Maum Capital Group, pose for photos during a media day at Seoul Dragon City in Yongsan-gu, Seoul on Wednesday. (presentation box)
The event came after Showbox – one of Korea’s “big four” film investment distributors – announced in April that it had secured 140 billion won ($108 million) in funding from MCG.
The American investment company was established last year by Koo Bon-woong, also known as Brian Koo. The founder of MCG is the son of the late LS Group Chairman, Koo Ja-hong.
Marc Andreessen, co-founder of the American venture capital firm Andreessen Horowitz, and Jerry Yang, co-founder of the Yahoo portal, are shareholders of MCG.
Kim first began her speech on Wednesday by noting that Showbox will further bolster support for creators producing original content.
As the intellectual property holder of various films and dramas, including “The Host” (2006), “The Thieves” (2012) and “Itaewon Class” (2020), Kim said the company now values “Super IP ” – an intellectual property that is created for use on various different platforms.
“By creating a team of directors, writers and producers, we will try to support creators,” said CEO Kim. “This opportunity will be open to all creators.”
Kim then gave Koo the stage, allowing him to talk about their partnership goal.
“Our goal is to remove ‘K’ from ‘K-content’,” Koo said during his presentation.
Koo explained that he views true globalized content as one created from the start to target the global market, not one created for the local market and then exported overseas. The CEO of the Silicon Valley-based company added that he believes Showbox’s Korean content can go global in this way, and said the company aims to support the achievement of this goal by connecting content to technology. future based on Web3.
Koo also explained why the company partnered with Showbox rather than other competitors in the local market.
“If we only consider financial factors, we might have had different standards (for choosing a partner). That doesn’t mean Showbox’s financial situation isn’t good,” Koo said. “If the two companies are not on the same page, we can fail. Talking with leading Korean companies in the (film) industry, we found that due to workplace politics and Korean cultural elements, it seemed difficult to become partners. But Kim Do-soo had a strong will to do a new project.”
Showbox CEO Kim Do-soo speaks during a media day held at Seoul Dragon City in Yongsan-gu, Seoul, on Wednesday. (presentation box)
Among them, the CEO of Showbox notably highlighted three films.
“First of all, the most anticipated work is the ‘Emergency Declaration’, as it is scheduled to be released on August 3,” Kim said.
Directed by Han Jae-rim, “Declaration of Emergency” had its world premiere at the Cannes Film Festival last year. The star-studded cast, which includes Song Kang-ho, Lee Byung-hun, and Jeon Do-yeon, also makes it one of the most anticipated movies in Korea this year.
“Filming for director Kim Seong-hun’s ‘Kidnapped’ (working title), starring Ha Jung-woo, is nearing completion. Filming will wrap in August and will likely hit local theaters next summer. I’m also excited by “Exhume” (working title) by director Jang Jae-hyun, who has his own universe. I think we can develop this into “Super IP”.
By Song Seung-hyun ([email protected])