Dexter Studios is set to work with the Taiwan Creative Content Agency (TAICCA) to expand its global infrastructure and strengthen its overseas business capabilities.
Dexter Studios (206560), a company specializing in VFX and content production, announced on December 1 that it signed an MOU with TAICCA. Under this new agreement, both parties will invest and produce video content and push their global expansion strategies together going forward.
TAICCA was established in 2019 to help build an ecosystem for the cultural content industry pursuant to the Development of the Cultural and Creative Industries Act. Currently, TAICCA carries out a wide range of tasks related to the cultural content industry, including statistical analysis and surveys/research, training of professional talent, development and production support, promoting technology development, transfer, and higher added value, investment and financing support, market development and external cooperation, operation and management of related facilities, copyright protection, etc.
Previously, TAICCA visited Dexter Studios’ headquarters in October to discuss its experience in overseas productions and investments. TAICCA officials also shared information on some of the projects supported by the Agency. Talks on promoting the mutual development of Korea and Taiwan’s content industry helped TAICCA and Dexter Studios talk important industry trends and vision for the future. Given the promising progress, both partners agreed to sign an MOU just two months after TAICCA’s visit to Korea.
TAICCA Chairman Tsai Chia-chun said, “Korean movies, drama series, and webtoons have become so popular around the world. Taiwan wants to explore new ways to advance its research in video technology and support our business policies by interacting with Dexter Studios, which has worked with global OTT platforms and on Academy Award-winning productions.” Tsia added, “We’re going to make full use of the Taiwan National Development Fund’s cultural content investment program to collaborate with Dexter Studios on coming up with highly practical, win-win initiatives.”
Home to approximately 24 million people, Taiwan generated approximately NTD 964.3 billion (KRW 39.9/as of November 30, 2023) in sales revenue from cultural content, an increase of more than 4% compared to the previous year. Looking at the trend over the past three years, Taiwan has been on a steady upward trajectory, going from NTD 912.4 billion in 2019, NTD 926.4 billion in 2020, and NTD 964.3 billion in 2021.
Kim Wook and Kang Jong-ik, co-CEOs of Dexter Studios, said, “Due to its geographical characteristics, Taiwan is a region actively engaged with powerhouses in Asia’s content industry such as Korea, Japan, and China. Its market has great growth potential as well. It produces its own domestic content across many sectors, including broadcasting, advertising, games, and books, but it’s also showing some significant interest in Korean IP.”
They explained, “As things go forward, we plan to establish cooperative relationships with local VFX companies in Taiwan through TAICCA and further discuss various possibilities such as talented individuals, participating in joint projects, and other content planning and production initiatives. Our hope is to continue our friendly and cooperative relationship with Taiwan with the common goal of developing our content industries.”
