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Biz News Korea(Eng)
S. Korea’s animation maker Locus draws $22.5 mn investment from China
- Collected
- 2016.10.07
- Distributed
- 2016.10.10
- Source
- Go Direct
Locus on Thursday announced that it signed an investment agreement worth 25 billion won with China’s To-Win Capital Group. The Chinese investor that manages assets amounting 200 billion yuan ($3 billion) specializes in investing in cultural contents makers and has been steadily investing into China’s one of major video streaming service providers LeTV. To-Win Capital has also shown a strong appetite for Korean cultural contents developers in the recent years and took over Seoul-based contents developer Candle Media Co. in July last year.
The Chinese investor is said to have decided to invest in Locus as it judged highly of the Korea animation specialist’s technical expertise and vast experience in developing media contents.
Established in 2009, Locus has strength in visual effects production and computer-generated imagery technology. It has participated in a number of animation works. The company is currently working to produce an animation movie based on the scenario that earned a grand award, with an aim for its global launching in 2018. The Korean company said it plans to use the latest proceeds from the Chinese investor to produce the animation film.
The latest investment to the company suggests that the company’s animation and visual effect technologies are highly recognized and the company will continue to make all-out efforts to make a successful debut of the animation that it is currently working on in the global market, said Kim Hyung-soon, head of Locus.
By Lee Sun-hee
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]