SEOUL, KOREA ­– Asia’s leading content and media company CJ E&M and CJ Group’s home shopping and e-commerce subsidiary CJ O Shopping  jointly announced that the combined firm will be named “CJ ENM” upon completion of merger on July 1st, 2018. The new name is the abbreviation of “entertainment” and “merchandising,” which reflects the expansion of CJ’s business into global content and commerce industry.

Being at the forefront of spreading Korean pop culture worldwide, the merged company is expected to focus on three strategies: strengthening its portfolio of premium original content, expanding digital content studio to maximize the synergy between entertainment content and commerce, and developing global vertical commerce platform specialized in fashion, beauty and lifestyle industries.

“Combining CJ O Shopping’s ten million customers and CJ E&M’s 50 million viewers, the merger will take shopping and entertainment experience to the next level,” said CJ O Shopping CEO Heo Min-heoi.

CJ E&M CEO Kim Sung-soo stated that “the new company expects 2018 revenue of $6 billion and 75 percent growth to $10 billion by 2021 to become world-leading content and commerce company.”