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Softmax/PMC deal

Magna Carta developer signs "cultural content" agreement with Korean performing arts outfit.

- Cooperation (game/performance) between the representative producers of cultural contents of Korea for the globalization of new Hallyu contents

- Expected to engage in the production and joint marketing of contents based on the original form of Korean culture

Softmax Co., Ltd. (CEO: Jeong Yeong-won) announced that it has signed an MOU for cooperation in the production of "cultural contents" with PMC Production (Co-CEOs: Lee Gwang-ho, Song Sung-hwan).

Through such cooperation, both companies plan to foster strategic cooperation in technology exchnges for their business areas of "performance" and "game" particularly on the production of new contents and cooperation in project development, its joint execution, and joint marketing through the original form of culture based on Korean subject matter.

Both companies are engaging in various One-Source, Multi-Use (OSMU) projects using their own original IPs. In the case of "Games," musicals based on games are produced nowadays in the domestic musical market. So far, the responses have been good. The current trend in the game business is to target the public who comes across many forms of media rather than just the fanatics in the domestic international game markets. Furthermore, in the case of "performances" such as musicals, since it has sufficient feasibility as a product through the expression of digital contents of "games" as complex cultural contents, both companies are planning to cooperate with the goal of generating profits by strengthening the brand of original works each of them owns and a diverse range of additional businesses.

Softmax Co., Ltd., is a representative video game developer in Korea. It currently engages in development projects of various platforms (online, console, mobile) as well as the console game "Magna Carta: Tears of Blood" (PS2 & PSP; released in 2004, 2006), which ranked no.1 in Oricon charts for console video games and recorded sales volume of 500,000 following its worldwide release. It is also one of the products that started the Hallyu Fever in digital contents (game).

Currently, its sequel "Magna Carta 2"(Xbox 360) is under development. Softmax has also entered the Nintendo DS business starting with the release of 2 types of Nintendo DS titles in Korea.

As a representative performance producer of Korea, PMC Production Co., Ltd. is a company that has successfully introduced to the world the Korean performing arts through non-verbal performances such as "NANTA," which is celebrating its 11th anniversary. The company has also established its own hall in Broadway, the home of musicals, as the first Asian company to do so. "NANTA" is Korea's leading performing art that has been viewed by 4.3 million people worldwide to date; it was also selected as one of the 10 major attractions of Seoul by the Korea Tourism Organization.

In addition, top Korean TV Drama "Dae Jang Geum" was made into a musical and produced as "Dae Jang Geum ancient palace musical." In fact, ancient palace musical is now a new form of performance held at the outdoor stage in "Gyeonghuigung." Korean subject matters and original form of culture such as "Brave Brothers," "Dalgona," and "March of the Youth" are currently being produced into a musical, and public performances are being held.

Yun Seong-hyeon, CFO of Softmax, expressed confidence over the planned endeavor. "Through this cooperation, we shall let the world know of the excellence of Korean cultural contents by producing Hallyu contents that define a new trend through the upgrading of Korean subject matters," he vowed.

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