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CJ ENM has partnered with the Saudi Arabian Ministry of Culture to organize cultural events together. The two parties also signed a memorandum of understanding (MOU) to jointly invest in content production, and this was announced by the South Korean entertainment firm on Friday, June 10.
As per Korea Joongang Daily, Saudi's deputy minister of culture, Hamed bin Mohammed Fayez, and CJ ENM's chief executive officer, Kang Ho Sung, inked the deal late last week at the company's headquarters located in Sangam-dong in Seoul.
It was agreed that the Saudi Arabian culture ministry and CJ ENM will arrange different cultural events related to popular categories such as food, music, film, and architecture. For their joint investments, they will set up something that will support and develop talents from South Korea and Saudi.
While they have listed many categories, it was revealed that the partnership will especially focus on films. For this, CJ ENM will be working with the Saudi Arabian Film Commission to co-produce films that will be patronized and loved by both the Korean and Saudi Arabian audiences. The Korean film productions will also be showcased in Saudi Arabia's film festivals.
It was mentioned that the Saudi Arabian Ministry of Culture agreed to the partnership for one other important reason. According to the Saudi Press Agency (SPA), the country wants to enrich the Kingdom's cultural sector in Seoul through the collaboration.
In any case, Arab News reported that the agreement between CJ ENM and Saudi's Deputy Minister of Culture, Hamed bin Mohammed Fayez was signed in the presence of the Korean entertainment company's CEO and Saudi's Minister of Culture, Prince Badr bin Abdullah bin Farhan.
"We will be able to seek various cultural partnerships with this MOU," CJ ENM stated regarding the collaboration. "This is especially meaningful in that it will allow our content business to expand to countries in the Middle East."
Meanwhile, Prince Badr was in South Korea for an official visit to discuss boosting and developing cooperation with the country's cultural authorities. This effort is part of Saudi's Vision 2030, where its culture ministry is working on the development of the Kingdom's cultural sector and enhancing it through cooperation with other countries.
