Korea’s CJ ENM is paying special attention to its film business, putting former AceMaker CEO and film veteran Jung Hyun-joo in as head of the division, effective immediately, and highlighting its ambitions for an accelerated “global leap”. 

The upsized focus on films comes as hopes soar across Korea of the end to limitations on Korean content in mainland China. Expectations are that this could happen from May this year, although China has set no timetable and has never formally acknowledged the ban.

Although net losses in 2024 were significantly higher than in 2023, operating profit rose to KRW 104 billion/US$71.8 million in 2024 compared to a KRW 15 billion/US$10 million loss in 2023.

Combined, the company’s film and drama revenues soared in 2024 compared to the previous year.

Film/drama revenues in 2024 were KRW 1,705 billion/US$1.2 billion compared to KRW 1,092 billion/US$754 million in 2023 – an increase of 56%. 

Growth was particularly steep in the fourth quarter of last year, which ended with revenues of KRW 799 billion/US$552 million against KRW 300 billion/US$207 million in the same quarter in 2023.

CJ ENM listed Jung as the force behind the success of Bong Joon-ho’s "The Host" in her time at Chungeorahm Film; as well as features such as "Nameless Gangster": "Rules of the Times" and "A Taxi Driver" while she was head of production and investment at Showbox. 

She also brought more than 100 international films to Korea as part of Taewon Entertainment’s international acquisitions team.

The focus on making its films more competitive is part of CJ ENM’s overall international push. In February, the company listed “accelerating global expansion” as one of its key initiatives for 2025. 

CJ ENM’s film line-up for 2025 is currently led by "No Other Choice", directed by Park Chan-wook, and "Pretty Crazy", directed by Lee Sang-geun.