CJ sees Taiwan tie-up as key to online gaming growth

CJ E&M, the entertainment arm of CJ Group, has launched a joint venture with a Taiwanese firm as part of efforts to expand its business in East Asia’s online gaming industry, company officials said yesterday.

The operator of Korea’s popular online game site Netmarble and Taiwan’s Cayenne Entertainment Technology recently established Taipei-based Joy Bomb Entertainment Technology. The Korean firm has contributed 60 percent of the initial capital of $4 million.

The establishment of the joint venture is aimed at tapping the Taiwanese online game market, in which more than 5 million people, or 22 percent of its population of 23 million, are estimated to play.

The two firms hope to cooperate further to break into China, which is expected to leapfrog the United States as the world leader in the online games market.

Yonhap