ColorChips seeks tie-ups with South Korean firms

As per the terms of MoU signed here yesterday in the presence of the chief minister, N Chandrababu Naidu, during the Second Asian IT Ministers Summit, Gwangju Information & Culture Industry Promotion Agency will be acting as a facilitator between Color Chips and the South Korean animation companies for possible strategic business tie-ups, technical collaboration, technical know-how transfer, business outsourcing, joint ventures, co-production etc.

Color Chips and GITCT have also agreed to work together closely and explore and identify other possible areas of collaboration between Color Chips and the South Korean animation studios for the purpose of acquiring and developing an international base in order to access global market.

The company has recently signed a co-production deal for a thirteen-episode series with Benj Productions, a French company that specialises in animation production and distribution.

The co-production agreement is cash- cum-revenue sharing deal and is slated to be completed in the first quarter of 2004.

The television series titled Mon Chi Chi will be distributed by Warner Brothers in Europe and will be telecast by the French TV channel Teletoon. The central character Chichi (Kiki) is extremely popular in Europe and Japan.