SM C&C and drama production company Samhwa Networks signed a memorandum of understanding (MoU) to advance into the Chinese video content market.
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SM C&C stated on April 29, "Through this memorandum of understanding (MoU), SM C&C and Samhwa Networks will utilize both parties' writers and copyrights of original productions, production labor force, and business networks in China to target the Chinese drama and video content market together."
According to SM C&C, SM C&C and Samhwa Networks both acquired 2 billion KRW ($1.9 million USD) worth of each others' stock with SM C&C acquiring 1.66% (709,291 shares) and Samhwa Networks acquiring 0.76% (511,508 shares).
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