(SEOUL=NEWSIS) Hydraulx, a Hollywood visual effects house, will establish an Asian office in Korea.

Valuestone Inc. signed a letter of intent on January 23 with Hydraulx to build an Asian office in Korea through equity swap.

"We were able to persuade Hydraulx to establish its first Asian office in Korea by showing our strengths in the cultural contents industry and co-development measures," said Jeong Jin-sang, CEO of Valuestone.

"A Hollywood studio and the Asian office will be an opportunity for local companies to directly experience the technologies of a blockbuster producer and secure Korea’s competitiveness in the international community. We will make sure that Hydraulx’s first Asian office will be a success by gathering various opinions from the central and local governments and private companies," said Jeong.

Valuestone and Hydraulx will begin constructing a Hollywood video theme park this year where various customer-oriented facilities, including a multimedia air dome, hotels and facilities related to Korean Wave cultural contents, will be integrated.

"I hope that the Hollywood video theme park will become a landmark in Korea that provides tourists with many attractions and creates outcomes that are in harmony with the government’s cultural prosperity policies," said Jeong.

lovely_jh@newsis.com

Source Text

Source: Newsis (January. 28, 2015)

** This article was translated from the Korean.