(CJ E&M)

CJ E&M, an entertainment arm of CJ Group, aims to expand its presence in the global film market by securing 51 percent of stakes of local production house JK Film.

“The groundwork that CJ E&M has laid in China, Vietnam and Thailand is expected to be in harmony with JK Film’s film production prowess,” a source said Tuesday.

According to news reports, CJ E&M spent some 15 billion won ($12.9 million) to buy 36 percent stake in JK Film, which has made hits Korean films “Ode to My Father” and “Haeundae,” both of which drew more than 10 million moviegoers in local theaters.

Prior to the latest deal, CJ E&M already held 15 percent stake in JK Film.

By Son Ji-hyoung (json@heraldcorp.com)