CJ LiveCity Begins to Specify a Blueprint of Its Future Business, Under the Joint Venture With AEG

GOYANG, South Korea & OSAKA, Japan–(BUSINESS WIRE)–#AEG–CJ LiveCity (CEO Harry H.K. Shin), a subsidiary of CJ ENM (KOSDAQ:035760), signed a trilateral MOU with AEG and Goyang-si on November 30^th in Osaka, Japan.

CJ LiveCity, the world’s first Live K-Content Experience Districts, is to be located in a 326,400m² scale in Goyang-si, Gyeonggi-do, Korea. It will grand open with facilities offering experiences in various content including K-POP, films, TV series and entertainment shows, along with offices, waterfront gardens and ‘K-Lifestyle Anchor Complex’. October last year, it had a groundbreaking for CJ LiveCity Arena, the world’s first K-POP specialized Arena, which is on its way to be completed in 2024.

The MOU is intended to strengthen cooperation among the three to assist Goyang-si’s efforts to be designated as a Korean Free Economic Zone. Goyang-si is north of the Seoul metropolitan area, where CJ LiveCity will be located. It will be wide open for global visitors as they can reach within 40 minutes from Incheon International Airport, faster than they can from Seoul. When the GTX-A line (Great Train Express in the Seoul metropolitan area) opens in 2024, it will become even more accessible – within 20 minutes from the central districts of Seoul. Unfortunately, however, Goyang-si until now has not been able to be equipped with the infrastructure it deserves due to tight regulations.

So, CJ LiveCity, to support the local economy and its self-sufficiency, has begun to work hand in hand again with its strategic partner, AEG, the world’s No.1 entertainment business. CJ LiveCity and AEG will open the branch office of their joint venture in Goyang-si. When CJ LiveCity Arena is completed, AEG will take charge to operate it with CJ LiveCity together and promote concerts with global artists there too.

CJ LiveCity will become better positioned to welcome local and global businesses in Goyang-si, along with the branch office. ‘K-Lifestyle Anchor Complex’ will be built within CJ LiveCity to offer business environments and infrastructure favorable for global companies to settle. Tourism facilities with an outdoor observatory and accommodations tailored for the tourists will come along too. This will enable CJ LiveCity to form an ecosystem where work, play, and refresh reinforce one another. It now aims to expand itself into a hub of K-Content where everyone around the world wishes to visit.

Harry H.K. Shin, CEO of CJ LiveCity, together with Michael Fitzmaurice, the executive vice president of AEG Asia and Dong Hwan Lee, mayor of Goyang-si visited Kyocera Dome Osaka to attend 2022 MAMA Awards, the world’s No.1 K-POP awards. They shared the expectations they have for CJ LiveCity Arena, which will be the ultimate destination for K-POP fandoms. Mayor Lee also made a commitment to providing CJ LiveCity with full support for its successful opening.

Contacts

CJ LiveCity Communication Team

Kim Se Won, Head

+82-2-2193-7568

Yoo Han Vit

+82-2-2193-7588

Chung Yu Jin

+82-2-2193-7584

comm_cjlc@cj.net