Live & kicking Joon Lee Joon Lee’s new outfi t in Korea just made life for regional and international media companies looking for a way into the North Asia mega-market that much easier. But easy? Not quite. Joon Lee’s under-the-radar “bit of this, bit of that” story has just come to ly driven backlash in China against Korea’s decision to deploy the U.S. an end. On the eve of his fi rst regional roadshow and about seven months THAAD missile defence system. after he set up shop in Seoul, FOX Networks Group’s (FNG) former North Lee is also developing original IP with partners gathered under the LYD Asia EVP and head of original productions for Mainland China is unveiling Alliance, which includes Sun Hee Kim’s webtoons initiative, AfterToon and a co-ordinated plan that runs from creating original IP to a digital theme Sun Moon Creative from former FNG programming VP, Sun Moon. park project. LYD Digital Space is a partnership between V Plus and JS Kim, the former Lee’s new outfi t, LYD Networks, has also become a fi rst port of call for CEO of CJ E&M and KT Media Hub. The company specialises in devel- international brands with North Asia ambitions, eager to tap a wide range oping digital experiences, and is working on a digital theme park project of media solutions Lee has consolidated under V Plus E.NM. These include near Seoul. M&A activities, direct investment consultancy, production, channel distri- bution/content syndication/licensing and merchandising. While Korean content co-production/co-development is a top trend in Asia, Lee says the cooling focus on China will lead Korean companies V Plus, already the biggest agency for foreign media in terms of number to look for new opportunities. The need to replace dwindling China in- of brands/channels it represents, has two subsidiaries – production house vestment, which will continue through 2017, has already started to drive Studio LYD, which is wholly owned, and LYD Digital Space, in which the global expansion and is, perhaps, the most signifi cant change in Korea’s company has an equity investment. approach to the international market in the past year. Studio LYD is producing Korean dramas and movies with international IP/ “Major Korean rights holders have been actively engaging with both in- formats, and wants to expand this to unscripted content co-development ternational and regional studios and broadcasters to export/co-develop and co-production. their IPs/formats. They have made visible progress, although it’s not yet Three Korean drama projects based on international formats/IP are al- massive,” he adds. He also highlights the ongoing co-development learn- ready in production, including a Korean TV adaptation of Peter Chan’s ing curve. “There are signifi cant gaps in production culture and EQ be- Hong Kong feature, Comrades: Almost A Love Story, and a remake of Chi- tween the Korean system and others,” he says. nese webseries, Go Princess Go, with LeTV and FOX Networks Group. The production initiatives come against a backdrop of high-excitement over Korean co-productions such as Scarlet Heart with NBCUniversal and the Korean version of CBS Studios’ The Good Wife despite the political- 32 Lee says previous attempts at adapting Korean IP/formats, including feature fi lms, for international markets worked to some extent, “but the real success is yet to come”. The full interview is at www.contentasia.tv contentasia issue six, december 2016