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Family’s $4 Billion Bet Fuels Race for Korea’s Next ‘Squid Game’
- Korean pop culture draws investment from country’s big firms
- Entertainment becomes growth sector with strong stock returns
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When South Korea’s “Parasite” won best picture at the 2020 Academy Awards, a woman called Miky Lee took to the stage to accept the accolade.
Lee, the movie’s executive producer, is part of the family behind CJ Group, a conglomerate with interests from food to entertainment. For more than two decades, it had invested in the country’s pop culture.