Korean Telecom Group's Skylifetv has agreed a joint venture (JV) content partnership with Discovery to shine a global spotlight on Korean content and strengthen its market competitiveness.
The partnership will aim to create original, non-scripted Korean entertainment content both for Korean and International audiences.
The JV will launch by the end of the year with the aim that content will be broadcast across SkylifeTV channels, Discovery’ Korea channel and Discovery’s global network. The deal will also be responsible for the distribution of all content it creates across every media and platforms.
Hyun-Mo KOO, president, KT Customer and Media said: “This JV establishment with Discovery is a major milestone for Korea’s local content industry and brings a wind of change in Korean entertainment programs’ ecosystem for consumers.
“We are re-imagining various strategies to grow our original IP market and relying on the whole group companies to try partnership initiatives collectively and I believe this partnership marks the signal flare for various collaborations opportunities with Discovery ahead”.
Simon Robinson, president Discovery Networks Asia Pacific and chief financial officer Discovery Networks International said: “This partnership between our Asia Pacific business and Korea Telecom Group’s SkylifeTV underscores Discovery’s unrivaled expertise in creating high quality real-life entertainment for local and global audiences and leverages a fantastic opportunity for our two companies to create original content specifically for Korean audiences.
"I believe we are uniquely positioned to produce original, high quality content that will engage, inspire and inform Korean and international audiences. This content partnership will also shine a spotlight on the innovation coming from the Korean creative industries and spark additional international curiosity and interest in Korean content”.