• Source: Kim Woo-taek

Kim Woo-taek (Korean: 김우택; born (1964-07-04)July 4, 1964) is a South Korean producer and entertainment executive. He is the founder and current chairman of Next Entertainment World (NEW), which started as a film investment and distribution company and expanded into the musical, record, and drama business. Kim establishing himself as a prominent content producer in South Korea after producing major hit with the drama Descendants of the Sun, as well as film Miracle in Cell No. 7 and Train to Busan, which garnered 10 million viewers.
Kim's name made into the shortlist of Cine21 magazine's '50 Most Powerful Men in Korean Cinema' for seven consecutive years, spanning from 2001 to 2007.




Early life and education


Kim Woo-taek, born on July 4, 1964, in Seoul, completed his high school education at Hwanil High School in 1984. He went on to graduate from Seoul National University's Department of Business Administration in 1988. In 1990, He earned a master's degree in business administration from Emory University Graduate School in the United States.
He completed the CEO course at Sogang University and the Top Entertainment course at Hanyang University. He also completed the Cultural Content Global Leader Course at Seoul National University.




Career


After obtaining his master's degree in 1990, Kim began his career as an expert in mergers and acquisitions (M&A) in the planning department of the New York City branch of Samsung C&T. In 1996, he further advanced his career by joining Dongyang Global.
In the following year, 1997, he relocated to On-Media, a subsidiary of the Korean food company Orion Group, which had been spun off from Dongyang Group. This move marked his entry into the film industry. At On-Media, he took on the role of general manager of the children's broadcasting channel Tooniverse. In 1999 He moved to another Orion Grup subsidiary Mediaplex established in 1999. Mediaplex brought a new wind to the theater world by operating Megabox Cineplex, which emerged as a representative theater district in Gangnam, Seoul. In 2001, He entered the film business by becoming an assistant managing director at multiplex theater chain Megabox. Kim set a precedent for other theaters by introducing groundbreaking initiatives like hosting a film festival, theater membership, and Thursday releases, all under the slogan "A movie theater that is more fun than a movie."
In December 2002, Kim served as managing director of Mediaplex. On January 24, 2002, Mediaplex's CEO Dam Cheol-gon announced that it will establish a separate corporation called 'Showbox' and begin full-fledged investment in production of Korean films and foreign currency import and distribution business. Regarding this, Mediaplex managing director Kim Woo-taek said, "We will secure high-quality content through close consultation with domestic production and investment companies," adding, "The investment decision for some works has already been finalized, so full-scale sales will begin as early as the second half of this year." “We can get started," he said. Mediaplex also plans to import foreign currency and distribute about 20 domestic and foreign films per year.
Mediaplex was absorbed and merged with Showbox in 2003 and Kim became CEO. During his tenure, Kim's skills were recognized through successful box office achievement starting from Taegukgi (2004). In 2005 with Marathon (5.18 Million viewers), followed by Welcome to Dongmakgol (8 Million viewers) and Family Crisis (5.4 Million viewers), which ranked first, second, and third, respectively. These films secured the 4th, 7th, and 9th positions in the all-time Korean film box office success rankings. Followed by the box office success of The Host (2006). In April 2008 Kim became CEO of Megabox.
In 2008, Kim established a film distribution and investment company called Next Entertainment World (NEW). Starting with only four staff members and a capital of 2 billion won, he initiated this startup enterprise. Seo Dong-wook and Jang Kyung-ik were among the four original members who established NEW. The company's headquarters were situated in a corner of a building in Samseong-dong.
Unfortunately, not long after, a fire broke out in the building. Although there were no casualties, everything was destroyed. Reflecting on the incident, he remarked, "Everything burned down. It was a traumatic experience, but it all depended on how you interpreted it. I believed it was a way for things to fall into place." Undeterred by the setback, he set out to explore new horizons in the entertainment industry. Overcoming the challenges posed by the accident, he started anew from scratch, determined to carve out a fresh path for himself and his company.
NEW has been steadily making a name for itself in the film industry as a small yet robust company. Starting to increase profits through distribution of the Hollywood film Twilight in the first year.
In 2010, New began investing in and distributing Korean films in earnest. Its investment strategy involved diversifying its portfolio by producing multiple small, low-budget films, rather than putting all its resources into one project. After The Fixer became a box office success and Hello Ghost exceeded 3 million viewers, the industry began to pay attention to New's strength. Based on his confidence at this time, he began distributing works that were difficult for large companies to invest in, such as Late Blossom and Pietà. Late Blossom was a work that major distributors ignored, saying, "Who would watch a movie featuring a grandfather?" When Director Kim Ki-duk received the honor of the Golden Lion at the 69th Venice International Film Festival for Pietà. Kim Woo-taek as Producer witnessed a moment of glory and history enjoyed by the Korean film industry.
In 2011, Kim made a bold decision to leave his secure position as the CEO of Showbox Mediaplex and assumed position as NEW's CEO.
It was in 2013 that NEW finally garnered significant attention. The company had made its debut in 2012 by releasing blockbuster films like All About My Wife, The Grand Heist, and Pietà. Building on this success, NEW continued to captivate audiences in 2013 with hits such as Miracle in Cell No. 7. NEW continued to captivate audiences in 201, it surpassed competitors like CJ E&M, Showbox, and Lotte, and ranked first in terms of audience with the success of Miracle in Cell No. 7, Hide and Seek (5.6 Million viewers), and New World (4.68 Million viewers).

Miracle in Cell No. 7 and New World were films that were rejected by other major companies. Kim was fascinated by the story of New World. The employees were all against it, but Director Park Hoon-jung asked for a little more time. But the scenario was completely different. When Kim thought about why it became so interesting, it turned out that the story wasn't changed, but the characters were made clearer. Kim think It was so amazing and have trust."We communicate with people and make investment decisions based on whether it is enjoyable or not. These criteria remain consistent for all content."—Kim Woo-taek In August 2013, he established NEW subsidiary Content Panda, a content distribution rights distribution business. Moreover, with the release of The Attorney, another movie that exceeded 10 million views, at the end of 2013, New is enjoying its peak.
In November 2013, NEW supported the 5 billion won project December, a large-scale domestic creative musical held at Sejong Center for the Performing Arts in Seoul from December 6. Directed by Jang Jin and featuring popular artist Kim Junsu, December showcased the songs of Kim Gwang-seok and was a highly anticipated production expected to be a box office success among year-end musicals.
After that period, there was a challenging downhill journey. In 2014 and 2015, Heosamgwan and Daeho encountered significant setbacks, resulting in a sharp decline in stock prices and raising concerns about the Company financial condition. However, Kim Woo-taek remained steadfast in his resolve, showing unwavering determination regardless of the business's performance. In fact, during the past two years, the company has been actively expanding its foundation by establishing divisions dedicated to musicals, sports, and music. Additionally, it has successfully formed connections between China's financial hub and the entertainment industry.
In October 2014, Next Entertainment World (NEW) received an investment of around 53.5 billion won from Huache Media, China's largest entertainment group. This led to speculation that the profits from dramas were going to China. Kim clarified the situation by stating, "While it is true that Huache Media invested in and co-produced Descendants of the Sun, they are not direct investors in the drama but shareholders." He emphasized that the direct profits associated with the drama Descendants of the Sun belong to NEW and KBS, drawing a clear distinction.
In February 2015, he embarked on a sports marketing and management venture through Bravo & New. Notably, Bravo & New also represents the players of the women's national curling team, who captivated the public with their outstanding performance at the Pyeongchang Winter Olympics.
In 2016, NEW has taken its first step into the theater business. On April 1, NEW acquired CGV Sindorim for 30 billion won. CGV Sindorim has a total of 10 theaters and 1,486 seats, and has been operated by CGV.

In the same year NEW released Train to Busan in the summer market, which is considered the largest market of the year. Kim pushed ahead with the Train to Busan project with the belief that even zombies would have potential if the story had power."The zombies, freed from their reins, ran at a frightening speed and were eventually able to win the 10 million movie title. I was confident. After watching the movie, I decided that it would be good to put it on the summer market. I myself don't usually watch zombie movies."Train to Busan set the all-time record for daily attendance (1.28 million) and exceeded 10 million viewers, making it the only film of 2016 to achieve this milestone. It garnered positive reviews from both critics and the public for successfully adapting the zombie theme, commonly found in Hollywood movies, to Korean sensibilities.
NEW's first drama production was the KBS 2TV drama Descendants of the Sun. CEO Kim Woo-taek stated, "I came across 'Descendants of the Sun' by chance. I was exchanging greetings with a junior colleague of mine who mentioned that they were preparing a drama. A few days later, we met and I learned about it, and I was immediately drawn to it." Descendants of the Sun achieved the highest viewership rating of 38.8% in the first half of the year, setting an unprecedented record despite the declining viewership ratings for terrestrial dramas. In June 2016, it received the grand prize in the TV category at the 52nd Baeksang Arts Awards.
In 2018, he was appointed Chairman of Next Entertainment World.
In 2021, NEW (Next Entertainment World, Chairman Kim Woo-taek) signed a content supply contract with OTT service Coupang Play and decided to provide 25 movies.




Personal life


Kim Woo-taek practices Christianity as his religion and follows the motto "Be thankful in everything," derived from a Bible verse.
Kim Woo-taek tries to find something to do with his employees, such as going to a rock café during company dinners and having free discussions while watching plays or musicals.
He married his spouse, Han Mi, on June 16, 1990, and has one son and one daughter. His father-in-law is Han Wan-sang, former Deputy Prime Minister and Minister of Unification.




Filmography






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Stage






Accolades






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Notes






References






External links


Kim Woo-taek at Cine21 (in Korean)
Kim Woo-taek at IMDb
Kim Woo-taek at the Korean Movie Database
Kim Woo-taek at Naver (in Korean)

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