Chairman Lee Jay-hyun of CJ Group.

The film “Parasite,” which won the top award, the Palm d’ Or, at this year’s Festival de Cannes, let the entire world know of the value of Korean movies and their global position.

That in turn boosted the prestige of Korean culture around the world, said Chairman Lee Jay-hyun of CJ Group, the parent holding company of CJ E&M, the producer of the award winning film.

The chairman has been hard at work turning out superb contents in such areas as film, music and drama that people around the world cannot do without in their daily lives, which he said is his life-long dream.

Bong Joon-ho’s love for films is unique. In 1995, he pushed the Cheiljedang, which his father inherited from his grandfather, the chairman of Samsung Group, the largest conglomerate in Korea, to invest 300 billion won in Dreamworks. At the time Dreamworks was a brand new Hollywood film company set up by the likes of Stephen Spielberg and David Geffen, among others.

Later, the chairman had a hand in presenting 10 films to Cannes Film Festival to make Korean movies known throughout the world, with four of them made in collaboration with Director Bong Joon-ho.

“The Memory of Murder,” “the Snow Train,” and the “Parasite,” are among the four films that were presented at the famous global film festival with “Parasite” coming up with the top award of the 2019 French film festival.

He has continued to make investments in cultural projects over the past 20 years, upholding the philosophy of his father that no country exists without a sound culture, boosting the national prestige despite tough times.

He found out that the decision he made to safeguard the passion and flair of youth in the country by making investments in the cultural industry was the right decision.

The films put together superbly, like “Parasite,” undoubtedly boosted Korea’s national prestige, he said, swearing that he will continue to make investments in the cultural projects.

CJ Group companies are planning to build two massive cultural facilities themed after Hallyu, or the Korean Wave, just northwest of Seoul, company officials said on June 19.

CJ E&M, an entertainment and mass media giant owned by CJ Group, has agreed to build the cultural facilities covering about 210,000 square meters in Paju, about 30 kilometers northwest of Seoul, by June 2023, the officials said.

The company and the city of Paju signed an agreement on the construction of the facility tentatively named CJ E&M Content World within Paju Unification Park, they said.

CJ E&M Content World will feature about 20 studios, including a large studio, a special shooting studio, a permanent studio, experiential sightseeing facilities and outdoor open sets.

In addition, the facility will house a historical drama set, a period drama set and a K-pop open set, they said, adding that construction for the 320 billion-won ($272 million) facility, the size of 32 football fields, will commence next month.

A poster for the Parasite, the Korean film that won the Palm d’Or at this year’s Festival de Cannes, the top award at the French cinema festival.

Company and municipal officials expect the content world to create 21,700 new jobs in facility construction and content production and management over the next decade, in addition to a positive effect of 2.26 trillion won.

The outdoor open sets are also expected to attract about 1.2 million tourists annually.

On June 10, another CJ Group company, CJ LiveCity Corp., announced an agreement with the global entertainment firm Anschutz Entertainment Group to build a state-of-the-art arena in Goyang, just northwest of Seoul.

The 20,000-seat arena will serve as the country‘s leading live performance venue for K-pop stars, international artists and sports events, the company said.

A bird’s eyeview of CJ Live City's arena to be built in Goyang, Gyeonggi Province, near Seoul by CJ Group.(Photos: CJ Group)