Utopai East, which provides AI-based video storytelling technology, said on Monday it had acquired 100 percent of Seoul-based South Korean production company Alquimista Media.

Alquimista Media is a South Korean content producer that develops TV series and feature film projects. Utopai East was set up through a joint venture led by Utopai Studios, a technology hub developing cinematic AI technology for video storytelling. Utopai East aims to expand Utopai Studios' film-making vision into Asia, starting from South Korean and Japanese IP, and to produce next-generation film and TV content targeting global audiences. It plans to focus on developing projects that can later expand into global franchises.

It plans to present AI-based content distributed through theatrical releases as well as on TV and streaming platforms. The acquisition gives Utopai East a pipeline that includes 15 TV series and feature film projects Alquimista Media is currently developing.

Utopai East plans to fully incorporate Utopai Studios' AI-based video storytelling technology into existing projects as well as all content produced in the future. Alquimista Media will oversee content development and production in South Korea under Utopai East. Alquimista Media aims to produce premium content that combines local and global appeal by collaborating with international IP, and creative talent such as writers, directors, actors and producers, based on South Korean storytelling. Alquimista Media CEO Hyun Park (박현) will continue to oversee local development and production as the studio expands its production slate.

Kevin Chong (케빈 정), CEO of Utopai East, said, "Utopai East was founded to define the next era of global entertainment." He said, "I am encouraged that, together with the Alquimista Media team, we are bringing one of the most powerful creative engines in the world today to Korea and laying the foundation for a global studio platform that combines world-class storytelling with advanced AI production infrastructure."