Lee Mie-kyung, vice chairwoman of CJ Group, is launching a new content label called "First Light StoryHouse" and is set to discover global-oriented content. The aim is to uncover stories of Asians and Asian Americans, such as the films "Minari" and "Past Lives," and present them on the global stage.
According to relevant industry sources on the 30th, CJ ENM recently announced the launch of First Light Storyhouse in the U.S. Hollywood market. Operated under CJ ENM's Asian Content Initiative, First Light Storyhouse seeks to discover and invest in stories that reflect the multicultural perspectives of Asian Americans, such as in the films 'Minari' and 'Past Lives', and support them through co-production. It plans to pursue entry into the global market by collaborating with studios, production companies, and video streaming platforms (OTT).
Leading the effort is Lee, along with founding members such as Janet Yang, a producer who has won both Emmy and Golden Globe awards and served as the president of the Academy of Motion Picture Arts and Sciences (AMPAS), and Dominic Ng, chairman of East West Bank. The operation is being overseen by Ko Kyoung-boum, head of the global film division at CJ ENM.
According to foreign media including the American entertainment outlet Variety, Lee stated, "The recent success of Asian storytellers has demonstrated the potential and authenticity contained within their stories," adding, "We want to highlight the voices of those who believe in the power of storytelling that fosters consolidation of cultures."
The launch of this new business appears to be based on the achievements of CJ's film endeavors shown internationally. "Parasite," directed by Bong Joon-ho and produced by CJ ENM, became the first non-English language film to win the Best Picture award at the 2020 Academy Awards, while the following year, "Minari," co-invested and distributed by American film company A24, earned actress Youn Yuh-jung an Academy Award for Best Supporting Actress. Last year, "Past Lives," also co-invested and distributed by A24, was nominated for Best Picture and Best Original Screenplay at the Academy Awards.
"Minari" and "Past Lives" are films that portray the stories of Korean immigrants living in the United States and have received favorable reviews from local audiences. As a result, analysts suggest that CJ is actively seeking to uncover Asian immigrant stories for a Hollywood entry.
CJ has been operating its film business for 30 years this year, starting with a strategic investment in DreamWorks SKG in 1995. It has actively developed the theater and film production business, including the opening of CGV, the first multiplex cinema in Korea, but is experiencing business difficulties due to the rise of COVID-19 and the OTT market.
According to the Korean Film Council, last year, the number of theatergoers in Korea was 123.13 million, which is only half of the average annual audience from 2017 to 2019, before COVID-19. There were no major hits. Among the more than ten films that CJ ENM released between 2023 and 2025, the only film that exceeded the breakeven point in theaters was "I, the Executioner (Veteran 2)." In the first quarter of this year, CJ ENM's film and drama business recorded an operating loss of 23.2 billion won, and during the same period, CJ CGV's domestic film business also reported a deficit of 31 billion won.
In response, CJ is revising its film business strategy to cultivate global intellectual property (IP). In this regard, Yoon Sang-hyun, CEO of CJ ENM, expressed his ambition at the Busan International Film Festival last October, stating, "We aim to invest 1 trillion won annually to become a global IP powerhouse." The upcoming projects in preparation by CJ ENM, such as Park Chan-wook's "No Other Choice" and Yorgos Lanthimos' next film "Bugonia" (a remake of the Korean sci-fi movie "Save the Green Planet!") are all aimed at the global market.
A representative of CJ ENM noted, "While K-content is gaining attention, it is still not at a stage where we can say it has entered the main stage," adding, "CJ ENM has launched this initiative to serve as a gateway for global talent of Asian descent to come together to discover and support Asian creators on the global stage."