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Music & Entertainment

CJ ENM acquires renowned director Park Chan-wook’s Moho Film

Moho Film has produced popular movies such as Lady Vengeance, Snowpiercer and The Handmaiden

By Nov 02, 2021 (Gmt+09:00)

The Handmaiden, a Cannes competition title directed by Park Chan-wook
The Handmaiden, a Cannes competition title directed by Park Chan-wook

South Korea’s entertainment powerhouse CJ ENM Co. has acquired Moho Film, a domestic production company owned by Park Chan-wook, one of the country’s most celebrated film directors.

According to the investment banking industry on Tuesday, CJ ENM recently signed a share purchase agreement to take over Moho, including the management rights.

The value of the deal wasn’t known, but industry officials said CJ has paid more than 10 billion won ($8.5 million) to acquire Moho, of which the enterprise value is estimated at about 30 billion won.

Park Chan-wook, one of South Korea’s most celebrated film directors
Park Chan-wook, one of South Korea’s most celebrated film directors

Under the deal, CJ ENM will be purchasing Moho’s shares held by Park and other stakeholders plus new shares to be issued by the production company.

Park, best known for his Cannes grand prize-winner Old Boy in 2004, produced several box office hits such as Lady Vengeance, Snowpiercer and The Handmaiden through Moho Film.

Snowpiercer, a film directed by Park Chan-wook
Snowpiercer, a film directed by Park Chan-wook

CJ ENM has been acquiring film production companies to secure popular content as well as famous filmmakers.

In July, the company took over another local production house M Makers, established in 2019 by four Korean directors Kang Je-gyu, known for films such as Shiri and Taegukgi; Kim Hyun-Seok; Jo Ui-seok and Lee Byeong-heon.

Write to Jun-Ho Cha at chacha@hankyung.com

In-Soo Nam edited this article.

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