[Edaily Reporter Choi Hee-jae ] Gemstone E&M is expanding its business into film and TV drama production. The company is pursuing a joint venture with video content production firm IMTV and will unveil the K-occult horror film “Geumwol-do” as its first project.

Gemstone E&M, a comprehensive entertainment company, announced on the 2nd, “We are pursuing a joint venture with video content production company IMTV and will participate in the co-production and investment of the K-occult horror film ‘Geumwol-do’ as our first project.”

Gemstone E&M is currently building an artist lineup that includes Denian, Son Ho-young, and Kim Tae-woo from god, as well as the group Team. Additionally, the company is planning and managing a reunion project for Fin.K.L., a representative first-generation girl group, and is expanding its business to encompass music, live performances, and artist IP. With “Geumwol-do” as a starting point, the company plans to extend the capabilities it has accumulated in the music and live performance sectors into the video production field.

IMTV is a creative group comprised of talented writers, creators, directors, and producers who have produced over 50 regular programs, over 100 documentaries, and over 10 dramas and films, building trust with domestic and international broadcasters and platforms.

This collaboration focuses on combining IMTV’s video content planning and production capabilities with Gemstone E&M’s expertise in music, artists, and live performances. The two companies plan to expand the scope of content intellectual property (IP) utilization by linking various fields, including films, dramas, soundtracks (OSTs), and live performances.

Their first joint project, “Geumwol Island,” is a K-occult horror work that blends the occult, thriller, and action genres. It depicts the events that unfold when the protagonist, who had been living in Seoul, heads to the fog-shrouded island of “Geumwol Island” in search of his missing mother. The project is set to present a unique worldview infused with Korean sensibilities, centered around a blood-red moon and the mysterious beings hidden on the island.

The companies are preparing their first joint project using a transmedia strategy that involves the simultaneous development of a commercial theatrical film and a mid-form drama tailored for online video services (OTT). “Geumwol Island” is being developed in two formats: a commercial theatrical film and a six-episode, 30-minute mid-form drama.

The mid-form drama has been selected for the “2026 OTT-Specialized Content Production Support” program by the Korea Creative Content Agency (KOCCA) in the “IP Acquisition-Type Mid-Length” category and will receive production funding. This lays the groundwork for expanding the original IP into various video formats and follow-up projects.

Gemstone E&M is participating in this project not only as a co-producer and investor but also by contributing to the film’s score. In particular, recognizing that sound and music are key to creating tension and immersion in the occult horror genre, the company plans to organically integrate visuals and music from the planning stage onward.

Jason Lee, Group Chief Operating Officer at Gemstone E&M, stated, “‘Geumwol-do’ goes beyond a simple film investment; it marks Gemstone’s first step as a primary producer of visual content.” He added, “By combining IMTV’s video production capabilities with Gemstone’s music and artist IP, we will design visuals and music together from the planning stage and develop a business model capable of expanding into diverse content formats.”

*Geumwol-do* has completed casting of major star-level actors, and specific production details, including the cast, will be revealed sequentially.