The Jakarta Post
S.M. Entertainment's EXO performs in the Singapore Indoor Stadium on Saturday, March 3, 2018. (S.M. Entertainment/File)
PT Trans Media Corpora, a part of business tycoon Chairul Tanjung’s CT Corp., signed on Monday a memorandum of understanding (MoU) with South Korea-based S.M. Entertainment Group in Jakarta to establish a new trend for media and entertainment industries in Indonesia.
Following the signing ceremony, both companies plan to hold a series of meetings in Jakarta and Seoul to prepare for the establishment of a Jakarta-based joint-venture company within three months, as reported by kontan.co.id. Chairul Tanjung, chairman of CT Corp., expressed his hope that the deal will offer significant results, not only for both countries but also Asia.
The collaboration is said to involve including talent management, visual content production, event production and a mobile platform.
The former coordinating economic minister also predicted an improvement of fresh and interactive content requests amid the transition period between generations, particularly because by 2020, Indonesia will be dominated by millennials and post-millennials who are thirsty for innovative and interactive entertainment.
“The combination between S.M. Entertainment’s ability in the transforming worldwide entertainment industry, Trans Media [Corpora]’s ability to produce high-quality content and the power of digital distribution will create a new standard in this country’s media and entertainment industries,” Chairul said.
Kim Young-min, CEO of S.M. Entertainment, felt certain that the collaboration would bear positive results, such as amplifying the popularity of celebrities managed by the company in Indonesia and boosting the birth of Indonesian-Pop (I-Pop) in a global scale through local talent management and training.
Supporting Kim’s statement, Chairul told kompas.com, “We hope Indonesians can go global as well – not only Koreans. If Koreans have K-Pop, why don’t we have I-Pop?”
Recognized as one of the largest entertainment companies in South Korea, S.M. Entertainment is said to be the initiator of the so-called Korean Wave across the world. Founded by Lee Soo-man, it manages some of the biggest names in the K-pop industry, including Super Junior and EXO. (wir/wng)
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