Dragonfly, CJ ENM sign MOU on content business

The two companies share technology and promote joint projects to develop content based on the IPs

Lee Jong-min, head of CJ ENM IP development center (left), and Kwon Seok-hong, head of Dragonfly business headquarters

Joo-Wan Kim 1

2022-12-07 15:45:08 kjwan@hankyung.com

Korean games

Dragonfly said on Wednesday that it has signed a memorandum of understanding (MOU) with CJ ENM Co. to cooperate in moving into new content businesses.

According to the terms of this agreement, the two companies will share technology and business strategies by utilizing Dragonfly's most popular game Special Force intellectual property rights. In addition, they will promote joint projects to develop content such as games, webtoons, dramas, and movies based on the IPs.

Dragonfly also plans to develop characters by expanding the solid storylines of the original with new stories together with CJ ENM's staff writers. The two companies plan to expand their portfolios by utilizing the jointly developed "Story IP" works in various ways.

Founded in 1990, Dragonfly developed the world's first online first-person shooter (FPS) game Karma Online in 2002 and popularized the FPS genre in Korea with Special Force. The game, which has more than 100 million cumulative members worldwide, is in service not only in Korea but also in countries such as the Philippines, Thailand, China, and Taiwan.

Dragonfly's CEO Won Myung-soo said, "Through the latest agreement, we will create great works with CJ ENM in the near future," adding, "We will try to diversify our IP business through partnerships with several other companies."

Write to Joo-Wan Kim at kjwan@hankyung.com