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China's leading entertainment agency to enter Korean market

All Headlines 15:49 February 15, 2016

SEOUL, Feb. 15 (Yonhap) -- China's leading entertainment firm said Monday it will advance to the South Korean market by opening its Korean unit in Seoul.

"We will soon launch a 'Yue Hua Entertainment Korea' office in Seoul to introduce and develop a new paradigm in the entertainment industry in South Korea," an official of the firm said.

Yue Hua has already been testing the waters by collaborating with South Korea's Starship Entertainment, which manages the girl group Sistar and singer K.will, to produce five-member boy band UNIQ.

A girl group named Cosmic Girls is set to debut in the first half of this year under the two firms' partnership.

"China is the largest market with a 1.3 billion population, while South Korea is the leading entertainment content producer in Asia," the official said.

The official said China's high market potential and Korea's content-producing capabilities will create a great synergy effect, forming "one Asia market."

Established in 2009, Yue Hua is a general entertainment firm on music, film and TV drama production as well as artist management.

It will also participate in the two countries' joint venture programs for production and investment of cinema, drama and entertainment programs, according to the official.

Yue Hua has been listed on the Chinese bourse since last December with a total market value of 600 billion won (US$495 million).

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