Gaming, tech and entertainment biggies building a big studio

A 3-D rendering of the Immersive Digital Media Center (I-DMC) production studio complex set for completion in 2025 [NEXON]

Five companies — in tech, gaming and entertainment — will start construction of a large production studio in Uijeongbu, Gyeonggi, this summer.

The Immersive Digital Media Center (I-DMC) is set for completion in 2025.

YN Culture&Space (YN C&S), which is owned by YG Entertainment, Naver, Nexon, Wysiwyg Studios and Wysiwyg subsidiary NP, is building the studio.

I-DMC will have five production studios, which will be suitable for making videos for online services.

YG Entertainment has been streaming online concerts, while game companies Nexon and Wysiwyg Studios have been seeking to extend the reach of their games with the production of videos based on them.

I-DMC will also include research and development facilities for companies seeking to utilize their intellectual property for other uses.

The complex will have 49,600 square meters of floor space. It will be located within Uijeongbu Rhythm City, a residential complex scheduled for construction in Gosan-dong, eastern Uijeongbu.

The owners of YN C&S — YG Entertainment, Naver, Nexon and Wysiwyg Studios — have similar shares in the company, with Wysiwyg Studios owning slightly more when the stake of its subsidiary is counted. The exact amounts were not disclosed.

YN C&S was founded on July 31, 2020 by YG Entertainment and Naver as a construction and real estate company. Wysiwyg Studios and its subsidiary invested 10 billion won ($8.4 million) in April and Nexon 15 billion won in January.

Following the news of Nexon's investment, Wysiwyg Studios poured in an additional 10 billion won.

BY YOON SO-YEON [yoon.soyeon@joongang.co.kr]