Eugene Group to Invest 2 Trillion Won in Media Business to Develop Future Growth Engines

Leap to an Integrated Media Platform Centered on YTN
Maximizing Media Value by Mobilizing Group-wide Capabilities
Targeting 500 Billion Won in Media Revenue by 2030

Eugene Group has designated its media business division as a core growth engine for the future, committing over 2 trillion won in investment over the next decade. As a prolonged downturn in the construction sector has eroded profitability in its main ready-mixed concrete business, the group appears to be shifting away from its longstanding manufacturing-based core to transform itself into a media-driven company.

Kang Hee-seok, CEO of Eugene ENT, is presenting the media business vision of Eugene Group at the headquarters in Yeouido, Seoul. Eugene Group

On July 9, Eugene ENT, the media intermediate holding company of Eugene Group, held a press conference at its headquarters in Yeouido, Yeongdeungpo-gu, Seoul, to unveil its future business plan centered on this vision for the media division of the group.

Eugene Group began in the early 1970s as a distributor of construction materials, including ready-mixed concrete, and expanded its portfolio into financial services with the acquisition of Seoul Securities in 2007. However, as the slump in the construction industry has deepened recently, concerns have grown over deteriorating profitability in its core construction materials business and the limitations of domestically concentrated industries amid South Korea’s declining population. This has prompted calls within the group for a breakthrough strategy.

In response, the group plans to transform itself into an integrated media platform centered on YTN, which it acquired in 2024, encompassing content production and distribution, as well as data, commerce, and events. The strategy involves adapting a model similar to that of U.S. media company Penske Media Corporation (PMC), which expands into various businesses based on highly trusted media, to suit the characteristics of the Korean market.

To achieve this, Eugene Group will leverage YTN’s trusted journalism to strengthen economic and industrial content, while also pursuing acquisitions of additional specialist media outlets in the K-lifestyle sector. In addition, the group aims to enhance its media competitiveness by combining capital, production capabilities, and AI technology.

Studio Eugenia, which produced Netflix's variety show "Black-and-White Chef," will be developed as a hub for K-content creation. The group also plans to boost data utilization and operational efficiency by integrating Eugene ITS's digital transformation capabilities with TXR Robotics’ AI and automation technologies. Having signed a memorandum of understanding with U.S. broadcaster Sinclair, Eugene Group is accelerating its entry into the North American market by also discussing collaboration with the National Association of Broadcasters (NAB) and the Federal Communications Commission (FCC).

Heeseok Kang, CEO of Eugene ENT, is presenting Eugene Group's media business vision at the headquarters in Yeouido, Seoul. Eugene Group

The group will also expand into high value-added businesses beyond content. The YTN Seoul Tower, which gained attention for its appearance in the Netflix animation "K-Pop Demon Hunters," will be renovated as a landmark representing K-culture. The group also plans to broaden its business scope to include industrial data services, forums and award ceremonies, as well as retail and commerce.

The total investment scale is 2 trillion won, with 1.2 trillion won allocated to content and 800 billion won to business operations. This year, Eugene ENT will carry out a capital increase of 30 billion won, and pursue media acquisitions, AI transformation, content production, and the establishment of media and content funds. The goal is to expand revenue from the media division to 500 billion won by 2030.

Kang Heeseok, CEO of Eugene ENT, stated, "In the age of AI agents, the traditional media business model reliant on advertising and subscription fees has its growth limitations. The trust that a good media company has accumulated over time has become an irreplaceable asset." He added, "We will work to build an integrated platform based on media, providing K-industry content and data, and connecting capital with a global network, all founded on trust."

This content was produced with the assistance of AI translation services.