South Korean conglomerate CJ ENM has appointed Chang-Gun Koo as the new CEO of its entertainment division. Koo is a CJ Group veteran who is now mandated to oversee plans for global expansion and accelerated growth “to lead a new paradigm in the entertainment industry,” the company said today.
As part of an annual executive reshuffle, Koo replaces Ho-sung Kang, who becomes co-CEO of CJ Group. Koo first joined the company in 2010, then worked as an analyst at Samsung Securities before becoming CEO of global foodservice and culture company CJ Foodville in 2017. Those posts were followed by his most recent role as CEO of Korea’s No. 1 health and beauty salon CJ Oliveyoung, which he has managed since 2018.
CJ ENM’s entertainment arm works across media content, music, film and performing arts. It has been aggressive in its growth trajectory in recent years. In 2021, the company has pledged to invest more than 5 trillion won ($4.5 billion) in content creation over the next five years. The company behind Bong Joon-ho’s Oscar winner parasite and Fox’s i can see your voice Earlier this year, the company acquired 80% of Endeavor Content’s Scripted business and expanded its multi-studio structure internationally by establishing CJ ENM Studios with a focus on specializing in the production of content for OTT platforms in Korea and worldwide.
Among the films it has supported this year are Confidential Task 2: Internationalwhich grossed nearly $49 million amid local box office recovery, and Korea’s Oscar entry by Park Chan-wook, decision to go.
CJ ENM also continues to grow its digital and technology businesses with a recent investment in US concert platform AmazeVR and a partnership with Line Digital Frontier on a Japan-based joint venture, Studio Dragon Japan.