CJ CGV and Locus are becoming partners.
CJ CGV announced on the 24th that it has signed a Memorandum of Understanding (MOU) with the video content production company Locus for the "Expansion of New Intellectual Property (IP) Market and AI Technology-Based Content Development."
This agreement is part of a strategic collaboration aimed at enhancing the business performance and market competitiveness of both companies and leading the next-generation content industry. Through this agreement, CGV will support the theatrical release of videos produced by Locus, which has strengths in video content utilizing next-generation technologies such as CG and VFX.
CGV and Locus plan to develop various content incorporating AI technology to secure differentiated content competitiveness. They also agreed to jointly promote various marketing strategies, including actively utilizing online and offline promotions to enhance content activation.
With this agreement, both companies are expected to strengthen the global competitiveness of the domestic content business and lead the next-generation content market.
Go Eun-joo, head of the content business at Locus, stated, "Through this agreement, we will actively cooperate to ensure that Locus's creative IP is recognized in a broader market," adding, "In particular, we expect to create new industrial value through the development of next-generation content based on AI technology."
Jo Jin-ho, head of domestic business at CJ CGV, said, "With this collaboration with the content production company Locus, we expect to diversify the content that can only be experienced at CGV and introduce new content," and added, "We will continue to actively contribute to building an innovative content ecosystem."
