CJ E&M, South Korea's largest content and media company, is set to establish a Turkish unit to make inroads into the local movie market.
"We will set up a local unit for content making, investment, distribution and marketing in Turkey and begin making South Korea-Turkey co-produced films," the company said in a release.
It, however, did not mention exactly when the new company will be established.
"In June we'll begin filming 'Hot, Sweet & Sour,' the Turkish version of 'A Wedding Invitation,' and are working on the screenplay for the Turkish version of 'Miss Granny' with the goal of beginning its shooting within the year."
"A Wedding Invitation" is a romance drama that CJ E&M co-produced with a Chinese company in 2013. It brought in more than 10 times its pure production cost in the Chinese market. The film's Turkish edition will be co-produced by CJ E&M and Turkey's No. 1 movie production company BKM.
The 2014 South Korea box office smasher "Miss Granny" is a comedy about a 70-something grandmother who suddenly regains the physical appearance of her 20s after visiting a mysterious photo studio. It was remade into Chinese, Vietnamese, Japanese and Thai versions with the opening of its Indonesian co-production due in June. The production of the film's English and Spanish versions are also underway in the United States.
"Turkey is one of the few countries in Asia, along with South Korea, Japan and India, where the market share of their domestic films exceeds that of Hollywood films. It's film market has a large growth potential," said Lim Myung-kyun, head of global business at CJ Entertainment. "We plan to expand our business to the joint production and distribution of Turkish films and the production of Turkish television dramas through the Turkish unit."