Choi Jin-hee (entrepreneur)

Choi Jin-hee (; Born November 9, 1968) is a South Korean television producer and businesswoman. Since December 2021, Choi Jin-hee has held the position of Chief Executive Officer (CEO) at Imaginus, a content production company that she established. Choi also served as Executive Advisor of Myriagon Studio, subsidiaries of Aniplex, since June 2023.

In 2012, Choi began her career as producer in CJ E&M's drama business division. She then served as the first CEO of Studio Dragon from May 2016 to July 2020. Choi ranked 14th in 2019 Forbes Korea 65 Powerful Female CEOs. In the same year She was selected as the winner of the CEO Leadership Award in the 2019 Media Management Award by The Media Future Research Institute.

After leaving Studio Dragon, she was appointed the role of Director of Film and Drama Business at CJ ENM, where she served from July 2020 to November 2021.

Education

Choi Jin-hee was born on October 4, 1968. She enrolled in the Department of French Language and Literature at Sungshin Women's University, graduating with a B.A. in French Literature from the College of Humanities. Later, she received a master's degree in advertising marketing from INSEEC Business School in France.

Career

Early career

In 1993, Choi started working at Dentsu, Young and Rubicam Korea (DYR Korea), where she was involved in advertising production. She later moved to Daewoo Video Business Division, where Choi took charge of foreign films import.

After moving to On-Media, she worked as the head of the content acquisition team. Choi was promoted to an executive position as the Film Business Manager on October 31, 2010. In 2011, she joined CJ Group after On-Media was acquired by CJ E&M. On October 17, 2012, Choi Jin-hee was promoted to the position of Head of CJ E&M Channel 1. Then, on January 28, 2013, she was promoted to the position of managing director (Sangmu). Her latest position was the head of CJ E&M's Content Business Department and Drama Business Department. Choi played a pivotal role in overseeing the production of dramas such as '' Misaeng'' and ''Oh My Ghost''.

Studio Dragon

When Studio Dragon Corporation was established on May 3, 2016, as a spin-off from CJ E&M's Drama Business Department, Choi naturally assumed the role of CEO. Studio Dragon was established as comprehensive studio model specialized in drama planning, production, and distribution. Unlike other production companies that are dependent on broadcasting companies, they proactively plan and produce their own works based on analysis of market needs and targets.

Following its establishment, Studio Dragon engaged in a proactive strategy of mergers and acquisitions, particularly targeting renowned TV drama production companies associated with hit drama writers. One notable example was the integration of Culture Depot into Studio Dragon, the company behind writer Park Ji-eun, which had been acquired by CJ E&M in January 2016. Additionally, between May and September 2016, Studio Dragon further expanded its portfolio through equity swaps with Hwa&Dam Pictures, known for writer Kim Eun-sook, as well as KPJ, known for writer Kim Young-hyun and Park Sang-yeon.

In September 2016, Studio Dragon and DramaFever, the renowned Korean drama and film streaming site that had been acquired by Warner Bros., signed a memorandum of understanding (MOU). during the Broadcast World Wide Convention (BCWW) opening ceremony in Seoul, Craig Hunegs, the president of business and strategy at Warner Bros. Television Group, revealed that the two companies would also be exploring the potential for remaking existing films and TV shows under their co-production agreement.

Under the leadership of Choi, Studio Dragon joined the KOSDAQ index of the Korea Exchange, the same index where its parent company is listed, through an initial public offering (IPO) on November 24, 2017. Preceding the IPO, Choi held a press conference in Yeouido, Seoul, during which she expressed, "Through listing on KOSDAQ, we will solidify our position as number one in domestic market share by 2020 and continue to grow overseas sales to become a major global studio."

Choi also set a goal to increase Studio Dragon's domestic drama market share to 40% by 2020 and increasing overseas sales by an average of 30% per year. Studio Dragon successfully secured overseas distribution channels for its content by selling tentpole works to Netflix. '' Mr. Sunshine'' which had a production cost of , was sold for . This amount is equivalent to 70% of the production cost. Unlike other drama production companies, Studio Dragon records a high profit margin of 60% on average.

By early 2018, Studio Dragon had already emerged as the leading South Korean TV drama production company, commanding approximately 20% of the market share in terms of the number of TV dramas broadcast in 2017. In the same year, Studio Dragon became a subsidiaries of CJ ENM after their previous parent company, CJ E&M, was merged into CJ ENM.

In March, Choi announced Studio Dragon acquisition of a full equity stake (200,000 shares) in GTist, a drama production company known for its talented creators including writer Noh Hee-kyung, director Kim Gyu-tae, and . The acquisition was made for KRW 25 billion in cash. Writer Noh Hee-kyung debuted in the ''MBC Best Theater 'Mother's Gardenia in 1995 and worked as a drama writer for over 24 years, and has written works such as ''Worlds Within'', '' That Winter, the Wind Blows'', '' It's Okay, That's Love'', ''Dear My Friends'', and ''Live''. Director Kim Gyu-tae has collaborated with writer Noh Hee-kyung in many projects such as ''Worlds Within'', '' That Winter, the Wind Blows'', '' It's Okay, That's Love'', and ''Live.'' Meanwhile Director Hong Jong-chan has directed ''Doctor Stranger'', ''Dear My Friends'', and ''Her Private Life''.

Trough acquisition of Culture Depot, Hwa&Dam Pictures, KPJ, and GTist, Studio Dragon have recruited many talents, reaching 183 people as of the second quarter of 2019.

In September, Choi announced that Studio Dragon has acquired an about 20% equity share in Movierock, a movie production company. Founded in 2012, Movierock (CEO Kim Jae-joong) is a domestic film production company that is recognized for its excellent planning and production ability by successively releasing films such as ''Thread of Lies'', '' Midnight Runners'', ''Be With You'', ''Innocent Witness'', and '' Tune in for Love''.

In November 2019, Studio Dragon and Netflix signed a production and distribution agreement. The three years agreement, effective in 2020, involved Studio Dragon creating original series that were globally distributed by Netflix on its platform. Furthermore, Netflix acquired distribution rights to certain titles from Studio Dragon that were not included in the partnership. The deal followed pre-existing ties between CJ, Studio Dragon and Netflix, which has seen the SVoD stream series including ''Stranger, Mr. Sunshine, Memories of the Alhambra, Romance Is A Bonus Book,'' and ''Arthdal Chronicles.''

In December 2019, Choi announced Studio Dragon had signed an acquisition agreement for a 19% stake of Merrycow Creative owned by Writer who wrote ''Memories of the Alhambra'' and ''Nine''.

Choi grew sales of Studio Dragon from at the end of 2016 to at the end of 2019. On December 30, 2019, as part of the executive reshuffle for 2020, CJ Group announced the promotion of 58 individuals, which included Choi Jin-hee, the CEO of Studio Dragon. CJ ENM promoted Choi from the position of executive vice president to vice chairman. As the only female executive to receive a promotion, Choi made history as the first female executive in the company to rise to the position of vice chairman through internal promotion.

On July 16, 2020, CJ ENM announced leadership changes within Studio Dragon. Choi Jin-hee was appointed as the director of the newly established Film and Drama Division at CJ ENM. Kang Cheol-gu, the Management Planning Director of Studio Dragon, and Kim Young-gyu, the First Production Director of Studio Dragon, were selected to jointly assume the position left by Choi as the new CEO for Studio Dragon.

On August 31 of the same year, Choi exercised options on 21,840 shares of Studio Dragon stock at an exercise price of per share. With a closing price of on September 8, it appears that a 200% valuation return was achieved. Studio Dragon granted Choi 72,800 shares as stock options for being the first CEO of Studio Dragon in 2016. The first time Choi exercised stock options was in August 2019, when she exercised options for 21,840 shares. Therefore, a total of 43,680 stock options have been exercised so far, leaving 29,120 shares unexercised. Through this stock option exercise, Choi earned a market profit of . Considering the remaining shares, the value of Choi's stake in Studio Dragon amounts to .

Imaginus

In November 2021, Choi departed from her position in CJ ENM before the end of her term, which was originally scheduled to conclude in March 2022. Following her departure, Choi founded a new content production company called Imaginus in December 2021. Imaginus operates as a comprehensive content production company with approximately 10 entertainment and drama labels under its umbrella. Initially capitalized at , Imaginus attracted a significant investment of from J&Private Equity (J&PE) according to industry sources on December 8. According to an industry official, J&PE's investment in Imaginus was made at a corporate value of around . It is said that the follow-up investment aims to increase the corporate value to .

In August 2022, Choi was recognized as one of "Korea's 100 female startup leaders" in a list organized by Hankyung Geeks and Startup Alliance. The selection was based on factors such as cumulative investment amount, experience, and industry. The list showcased the top female startup representatives in 10 different industries, including Education, Fashion & Beauty, E-commerce, Finance & Insurance, Healthcare, Living & Space, Food Tech, Content & Social, Leisure & Travel, and Advertising & Marketing. Choi, representing Imaginus, ranked first in the Content & Social category and 9th overall.

In March 2023, Imaginus prepared to enter into a strategic partnership with Myriagon Studio. Myriagon Studio was a relaunch of Origamix Partners Inc, the management company of '' Alice In Borderland'' director Shinsuke Sato, which had been renamed after being acquired by Aniplex, a subsidiary of Sony Music Entertainment Japan. As of June 1, 2023, Choi served as Executive Advisor to Myriagon Studio to jointly build a strong Asian premium production network.

In April 2023, Imaginus's production of Cinderella at two a.m. was chosen as one of the 27 projects included in the '2023 Online Video Service (OTT) Specialized Content Production Support Project'. These projects encompass a variety of genres, such as dramas, entertainment shows, and documentaries. The 'OTT specialized content production support project' is a collaborative effort that involves the shared intellectual property rights (IP) between production companies and domestic OTT platforms. It requires the primary broadcasting of content on domestic OTT platforms, thereby enabling production companies to achieve sustainable growth by generating additional revenue. The purpose of this initiative is to facilitate the expansion of new subscribers for domestic OTT platforms by securing high-quality content. As a result, both production companies and domestic OTT platforms can experience mutual growth and development.

In August 2023, Imaginus and Innocean, an advertising production house affiliate of Hyundai Motor Company, joined forces to establish Studio Orbit, a joint venture specializing in content production. Hwang Ji-young was appointed as the CEO of Studio Orbit. Hwang has an impressive track record, having led MBC's popular entertainment show '' I Live Alone'' from 2017 to 2021 and receiving several accolades, including the 2018 Korean Broadcasting Awards Producer Award and the 2020 MBC Special Achievement Award. Her most recent project was ''With the Silk of Dohpo Flying in Denmark''. As the CEO of Studio Orbit, Hwang oversees the entertainment department, while director Kim Hee-won, known for directing ''Little Women'' and ''Vincenzo'', oversees the drama department.

Studio Orbit's signing ceremony was held at Innocean's Seoul headquarters, with key executives in attendance, including Innocean CEO Lee Yong-woo, Imagineers CEO Choi Jin-hee, and Studio Orbit CEO Hwang Ji-young. Studio Orbit aims to create relatable and enjoyable commercial content, such as entertainment shows, dramas, and movies, leveraging the expertise of talented creators to accelerate production.

Filmography

CJ E&M/CJ ENM

Studio Dragon

Imaginus

Accolades

Awards and nominations

Listicles

Notes

References

External links

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{{DEFAULTSORT:Choi, Jin-hee
21st-century South Korean people
20th-century South Korean people
South Korean expatriates in France
South Korean television producers
Sungshin Women's University alumni
South Korean women in business
CJ E&M
Studio Dragon
Living people
1968 births