Lotte Cultureworks (CEO Kim Jong-yul) announced that it has signed a memorandum of understanding (MOU) with Lotte Entertainment Vietnam and Japan's leading film and content company TOEI Company, Ltd. to jointly develop and produce Vietnamese films.

The agreement was established to combine the content business capabilities of the three companies across Korea, Vietnam, and Japan, building a foundation of cooperation for co-producing Vietnamese films and discovering new business opportunities in the global market. Under the agreement, the three companies will seek diverse business opportunities, including the joint development and production of Vietnamese films as well as investment and distribution cooperation both in Vietnam and the global market. They also plan to explore producing Vietnamese-language films through licensing and adapting intellectual property (IP) owned by each company.

Lotte Entertainment Vietnam is a local film investment and distribution company that has established its presence in the Vietnamese film industry by presenting local box office.

Currently, the company is preparing various local film projects, including "Sister Sister 3," "The Last Island," and "The Last Bullet." In addition, it is pursuing the development of content across various genres, such as "Saigon Oppa" (working title), directed by Park Gyu-tae of the film "6/45," and the feature-length animation "Thanh Giong," inspired by traditional Vietnamese folklore.

TOEI is a leading Japanese film and visual content company with a history of over 70 years, operating extensive businesses including the production and distribution of film and television content. It has participated in the production of globally renowned animations such as "Dragon Ball," "One Piece," and "Slam Dunk," as well as diverse content including "Kamen Rider" and "Super Sentai."

Kim Jong-yul, CEO of Lotte Cultureworks, said, "We are pleased to collaborate with TOEI on various projects currently under development with local creators in Vietnam. We hope this agreement will serve as a meaningful starting point for trilateral cooperation between Korea, Vietnam, and Japan, expanding our collaboration into diverse global business sectors."

Kim Jin-geun, head of Lotte Entertainment Vietnam, stated, "Vietnam is one of the most closely watched markets in Asia, powered by a young audience demographic and a rapidly growing local film industry. Through our collaboration with TOEI, we will add new possibilities to Vietnam's diverse stories and strive to help local films reach a broader global audience."

Yoshimura Fumio, CEO of TOEI, said, "It is meaningful to collaborate based on the close relationships that Lotte Cultureworks and Lotte Entertainment Vietnam have built locally. We hope this partnership will lay the groundwork for long-term cooperation and introduce Vietnam's outstanding IP and visual content to the global market."ROWOON ANNIE E-TION Hyunjae Zico 

(SBS Entertainment News | Kim Ji-hye)