Korean studio MK Picturesand Japanese animation group GDH KK have signed a memorandum of understandingfor mutual co-operation in the Asian market, including Korea and Japan.

Signed by MK Pictures chiefexecutive officer Lee Eun and GDH KK chairman Showji Murahama today (Feb 21) inSeoul, the MOU covers co-operation in the production of films, animation,television dramas and DVD series as well as the film business in general.

With animation company GonzoKK as a subsidiary, GDH KK (formerly known as Gonzo Digimation Holdings KK) hasbeen listed on the Tokyo stock exchange since 2004. The company produced aseries of popular animations including Samurai7 and Blue Submarine No. 6 whichare also well-known in Korea.

Powerhouse producer MKPictures states that GDH KK is "evaluated to be a next-generation visualculture enterprise with excellent know-how in international sales, marketingand financing strategy centered on the Gonzo brand".

The two companies haveagreed to share information and ideas in their respective business sectors fromthe planning stages onwards, in order to seek potential co-production andco-financing opportunities with each other.

Aside from their mainsectors of film and animation, the companies have also agreed to seek tocollaborate on new enterprises, including games, talent management andadvertising agencies.

The GDH KK deal follows MKPictures' recent television content deal with China's Zhejiang Huaying Media and a collaboration dealwith China's Poly Group - which quickly resulted in a multiplexpartnership late last year. MK Pictures states that it looks on its recent Japan and China deals as a step towards carving out a market foritself in Asia.