Visual effects (VFX) and content corporation Dexter Studios (CEO: Kim Wook and Kang Jong-ik) signed a strategic Memorandum of Understanding (MOU) with Krema Worldwide (CEO: Son Dong-jin and Song Kyung-woon), a general advertising agency, to further expand its business.
Dexter Studios announced on June 25 that it had signed an MOU with Krema Worldwide at its headquarters in Sangam-dong, Seoul the previous day (afternoon of June 24) to “establish a strategic cooperative relationship for new media advertising and promotional content.”
Dexter Studios is an all-in-one comprehensive content producer capable of content-related planning, shooting, production, and post-production using a “one-stop system.” So far, Dexter Studios has worked on “Along with the Gods: The Two Worlds” (2017), “Along with the Gods: The Last 49 Days” (2018), and “Ashfall” (2020).
Krema Worldwide, founded in 2009, is a small giant with annual sales of KRW 24.7 billion (as of 2020). Krema has been growing at a steady pace as a global advertising planner and integrated communication agency for large domestic companies for more than a decade. The company also entered the hyper-personalized marketing and live commerce business last year.
With this latest MOU, Dexter Studios and Krema Worldwide will jointly produce short-form commerce content, develop and invest in metaverse-based immersive video content, and promote various “brand movercial” (movie+commercial) projects. With the advent of the “untact” era due to COVID-19, short form, metaverse, and movercial content are emerging as new areas of business. The MOU between Dexter and Krema reflects this trend in its language to help both companies react swiftly to future trends moving forward.
Dexter Studios, which has recently expanded its business into the TV series, OTT, and gaming industries, will not look to stretch its scope further into the advertising market using its MOU with Krema Worldwide. In doing so, the company is expected to speed up the diversification of its businesses by adding another platform that can help it venture into different industries.
Dexter Studios CEO Kim Wook and Kang Jong-ik said, “With this MOU, we are expanding our business once again.” Kim and Kang added, “Adding Dexter Studios’ technology to Krema Worldwide’s know-how and human resources, we can create better quality content on a more diverse range of platforms. We hope that Dexter and Krema can work together to initiate new trends in different markets.”
Krema Worldwide CEO Son Dong-jin said, “Combining Dexter Studios’ IP and technology and resources for its universe and metaverse with Krema Worldwide’s advertising planning, which is the strength of our company, will help us build services that stand out and products that meet the marketing 4.0 strategies of global corporations.”