Dexter Studio finds new home in Sangam… looks to bolster its staff

By 2016.05.25 January 13th, 2021 No Comments

Visual effects (VFX) company Dexter Studio is in the final stages of relocating its headquarters to Sangam-dong, and it expects to bolster its staff to usher in a new era for the company. In Sangam, a newly created hub for the media industry, Dexter Studio plans to put more emphasis on recruiting high-quality personnel. On May 25, an official at Dexter Studio said, “We will complete our move to the DDMC building in Sangam-dong by Wednesday this week (May 25). Once we resume business at our new headquarters in Sangam, we believe we will be able to find talented individuals much more easily than before.”
He added, “We’re always on the lookout to add talented people. By the end of this year, we hope to expand our staff to at least 300 people.”
Originally, in 2011, Dexter Studio opened in Ilsan. In 2012, however, it relocated its headquarters to Paju-si, Gyeonggi-do. Dexter Studio’s newest headquarters will is located on the 18th and 19th floor of the Dong-A Digital Media Center (DDMC) building in Sangam-dong. Nearby, DDMC has a number of buildings featuring broadcasting and video media companies, such as the CJ E&M Center, YTN Tower, and SBS Prism Tower. As of the end of March, Dexter Studio has 260 or so employees working on video technology, making it the largest employer of video technology-related personnel in the industry (in Korea). Dexter China, Dexter Studio’s Chinese subsidiary, employs more than 40 technicians.
Dexter Studio specializes in producing a wide range of VFX for video applications. It was listed on the KOSDAQ exchange at the end of last year. Founder Kim Yong-hwa remains Dexter Studio’s largest shareholder, with 27.5% of outstanding company shares, followed by Prometheus Capital owned by Wanda Group in China (9.2%). In recent years, movies and television serials have started to use more VFX techniques to produce scenes that are difficult to create in real life.
In particular, the Chinese movie market, which continues to grow at a healthy rate, is driving demand for VFX video technology. Of the dozen or so contracts with movie productions Dexter Studio has secured so far, seven of them are Chinese films. As of the end of March, Dexter Studio has signed KRW 60 billion in contracts, with KRW 17.7 billion remaining on deliverables moving forward.
To penetrate deeper into the Chinese market, Dexter Studio created Dexter China, its Chinese subsidiary, in 2014. Dexter China is expected to participate in Wanda Group’s movie-inspired theme park in Qingdao as a content supplier. Markets have responded positively towards Dexter Studio’s rise in the film making industry. Share prices are holding steady at KRW 23,000 per share, with the all-time high trading price for Dexter Studio being KRW 34,000 per share. On a consolidated basis, Dexter Studio earned KRW 6.1 billion in sales during the first quarter of this year. Operating profit and net profit for the quarter were reported at KRW 260 million and 450 million respectively. Moon Ji-hyeon, a researcher at Mirae Asset Daewoo, said, “We are paying close attention to Dexter Studio and its progress in the Chinese content market. It’s noteworthy as the no. 1 company in the Korean VFX market, and the fact that it is playing important roles in the production of Chinese blockbuster movies is a positive as well.”

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