CJ ENM seeks to diversify its presence at 29th BIFF with TV series, K-pop documentary

South Korean entertainment conglomerate in search of ways to survive after continued box office failures

“Dongjae, the Good or the Bastard” (CJENM)

South Korean entertainment conglomerate CJ EJM, a leading movie distributor as well as the operator of the country’s largest multiplex chain CJ CGV, is seeking to diversify its presence at the 29th Busan International Film Festival by showcasing its series and a documentary.

According to CJ ENM subsidiary Tving, a leading domestic streaming platform, two of its original series “Dongjae, the Good or the Bastard” and “Way Back Love” are screening at the BIFF’s On Screen section.

“Dongjae, the Good or the Bastard” is a spin-off of the hit 2017 TV drama series “Stranger" and focuses on the story of one of the supporting characters, Dongjae, a prosecutor.

“Way Back Love,” slated for release in 2025, is the first OTT series produced by CJ ENM’s film business division. This fantasy romance drama features “Pachinko” star Kim Min-ha and “Extreme Job” actor Gong Myung.

A K-pop documentary film “RM: Right People, Wrong Place” is also being screened during the 29th BIFF, the film festival’s first large-scale K-pop documentary premiere.

CJ CGV affiliate CJ 4DPLEX is behind the global distribution of the documentary film that shows BTS leader RM and his exploration of his identity as a solo artist and as Kim Nam-joon the person. The movie premiere takes place at the outdoor theater of the Busan Cinema Center at 8 p.m., on Oct. 7.

“Way Back Love” (CJENM)

“RM: Right People, Wrong Place” (CJENM)

Other sideline events CJ ENM is holding at the 29th BIFF include an entertainment forum under the topic of “Navigating the New Paradigm” on Oct. 4, bringing together key figures from CJ and entertainment professionals to look into strategies and insights behind industry-leading content and the K-content ecosystem.

Also, CJ ENM will release two content IPs on Oct. 6 that it has jointly produced with the Busan Film Commission by working with emerging creators and writers.

Industry insiders viewed that CJ ENM is seeking to promote its diverse business portfolio, based on the continued weak performance of its film business.

Since 2022, CJ ENM has invested in and distributed a total of 13 films including “Broker,” “Decision to Leave,” “Alienoid,” “Dog Days” and “Past Lives.” But only two of them managed to reach a breakeven point -- “Decision to Leave” (1.9 million admissions) and “Confidential Assignment 2: International” (6.8 million admissions).

Ko Kyung-beom, who leads the film division at CJ ENM, said the company is seeking ways to recover its losses.

“Films that opened (in recent years) are behind the trend – they’re works that began, like, seven years ago. We’re thinking about how to reduce the gap and create works that can predict the consumer trend,” Ko told reporters in an interview conducted in March.

“We’re going to make bold investments in discovering a new talent. … Looking into content with the naked eye, breathing in new energy into the market and increasing the market pie is what we’re going to do,” he added.

By Kim Da-sol(ddd@heraldcorp.com)