Lan Kwai Fong Group and affiliate LKF Culture Films Limited have announced a collaboration agreement with KT, also known as Korea Telecom, the largest Korean telecommunications company. The signed intellectual property copyright and digital rights agreement allows both parties to cooperate in expanding the media and entertainment markets through developing and producing webtoon and live action content, the press release said.
Through this collaboration, the two groups will cooperate to develop new films and drama from webtoon content managed and owned by KTOON under KT. The venture plans to target the Greater China and US markets which comprise of the world's largest content markets.
KTOON’s webtoon platform, launched in 2013, is one of the top five platforms for popular comics in Korea. The most popular works include Andromate, Please Be My Master, Dead Flowers, Iron Girl, Cooking Man, Eve and Revenge Taxi. Audiences in Greater China and US markets will soon enjoy a variety of new content based on KTOON's webtoon intellectual properties in development, production and distribution led by Lan Kwai Fong Group.
“We are confident that this collaboration will produce exciting content,” stated Jonathan Zeman, Lan Kwai Fong Group’s Chief Executive Officer, “In recent years, Korea’s cultural and media industry has been very popular with people from all over the world. LKF Culture Films Limited has recognized this trend and has started an exciting cooperation with KT. With the Hollywood methodology, our experiences in media and entertainment industry in the Greater China region and the US as well as our creativity and innovative DNA, together with the KTOON’s webtoon content, we shall be able to connect the West and the East, and providing excellent user experience in the content market.”
Deajin Jeon, KT Contents Platform Business Development Vice President said, "We are very excited about this cooperation with LKF Culture Films Limited and believe that with their strong network and vast experience in the property, media and entertainment industry, we can add value to KTOON's content. Through this successful experience in Greater China and the US markets, the world's largest content markets, we will strive to provide more diverse and interesting KTOON contents that will be loved by people from all around the world in the near future.”