MUMBAI: Turner Broadcasting System (TBS) has teamed up with South Korea's media group JoongAng Ilbo (JAI) to launch Cartoon Network Korea.
The agreement was signed by TBS Korea vice president Ron Lee and JoongAng Broadcasting Corporation (JBC)- a JAI media group company- president and CEO Mun-Yeon Kim.
In keeping with the Korean broadcast regulations, the majority stake in the joint venture will be held by JAI's JBC, with Turner holding a 49 per cent stake in the partnership. Cartoon Network Korea will be languaged in Korean.
To debut later this year, Cartoon Network Korea will showcase the best in animation, offering both Korean and international animation. Predominantly an animation channel, it will bring together a unique mix of new as well as recognised programming to Korean kids.
Kim said, "The launch of Cartoon Network Korea is a very significant event for us and for the Korean television industry as the launch of the Network officially kicks off. Cartoon Network Korea will combine the unique strengths of both partners, and will build on our unrivalled knowledge and expertise to create a kids' channel that will raise the bar and set new standards of excellence in the kids' entertainment genre. Cartoon Network Korea will offer a variety of multi-genre animation titles from its world-renowned library, and will provide more than just Japanese titles or a single style of animation genre."
Lee added, "To successfully operate in a highly developed market such as Korea, it is imperative to enter into an alliance with a local partner. In JoongAng Ilbo, we are partnering with an acknowledged leader in the Korean media business. The partnership is a natural extension of our long standing relationship with JAI and is further strengthened by JAI's deep understanding of our brand philosophy. By making this strategic investment to create a unique kids' entertainment channel in Korea, we are demonstrating our commitment to cater to the specific viewing preferences of the young Korean audience."
"As a leading player in the kids' entertainment genre in Asia-Pacific, we understand that effective localisation is key for a network to resonate with the audience. Given our experience in successfully delivering specialised Cartoon Network services across the Asia-Pacific, we are confident that our compelling and diverse array of content, specially engineered for kids in Korea, will open up a whole new viewing experience for them," said Turner Entertainment Networks Asia senior vice president and general manager Ian Diamond.
Cartoon Network Korea will provide a diverse mix of content drawn from production companies from around the world including Japan, Korea and Cartoon Network's own library - comprising more than 14,000 Warner Bros., MGM, Hanna-Barbera and Cartoon Network Originals series and shorts. Cartoon Network Korea will also work closely with JAI to examine opportunities for the development of animation in Korea.
