It has been reported by Korean news site Hankyung that YG Entertainment has stepped up its game by furthering development plans with Chinese entertainment company Yuehua Entertainment.
Already named as one of the top three entertainment companies in South Korea, YG Entertainment does not let its guard down and has chosen to adopt a new business strategy to avoid facing business stagnation.
YG Entertainment is currently in talks with Beijing-based Yuehua Entertainment to work together for the joint production of movies and dramas. If the talks go through successfully, movie and drama projects are expected to launch in Korea and China simultaneously as early as next year.
After sealing a free trade agreement last month, Yuehua has established a subsidiary branch located in South Korea. The partnership between the two companies has already been going on for some time now, as they have jointly produced the rookie Chinese-Korean group UNIQ, which debuted with title track “Falling in Love” in October this year.
Besides, Epik High, which is signed under YG Entertainment, has also collaborated with Yuehua artist Bibi Zhou in “With You” that was released earlier this year.
YG Entertainment is apparently making rapid expansions into the Chinese entertainment industry recently, having reportedly received investment proposals from several companies in China. The group’s artists have also recently attended a press conference which announced the official partnership with Chinese group QQ Music, with possibilities of co-producing a new audition program. This is following the partnership that was bridged between SM Entertainment and Chinese search engine Baidu.
YG Entertainment’s representative Kim Sang Ho responded to the news by saying, “It is true that we are currently in discussions with the investment proposals received from China, but I am not able to reveal specifically which company it is.”
Other artists under Yuehua Entertainment include former Super Junior member Hangeng, Ah Du, Pledis Entertainment artists NU’EST-M, and After School.
Source: hankyung
