SEOUL -- LG Uplus, a mobile carrier in South Korea, will enhance the competitiveness of its intellectual property business through an unspecified amount of strategic investment in SAMG Entertainment, a domestic animation studio that has garnered the popularity of animation series abroad.
LG Uplus (LGU+) said it would launch a kids platform based on SAMG's content, introduce services targeting domestic consumers by the end of 2022, and expand them to smart TV services for global customers.
LGU+ and SAMG would jointly develop kids' products and teach ware by utilizing SAMG's various animation characters and LGU+'s .original characters. They will discuss joint investments related to the production of feature-length animations for theaters and the construction of large theme parks.
"We will continue to lead the kids' content market by combining SAMG's differentiated content capabilities with LGU+'s solid technology and platform," LGU+'s chief content officer Lee Deok-jae said in a statement on July 19.
The investment comes as SAMG is expanding its business scope by launching metaverse-based education platforms and virtual reality (VR) games. The company has acquired Enteral, a multi-platform game developer, to digitally convert IP content. "We will make achievements that are attracting worldwide attention by developing various businesses that combine LGU+'s powerful content platform with SAMG's global content IP," said SAMG CEO Kim Su-hoon.
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