• Spackman Media Group artist Wi Ha-jun of Netflix’s top show ever, SQUID GAME, is set to star in upcoming tvN K-drama LITTLE WOMEN
• Produced by Studio Dragon and directed by Kim Hee-won, LITTLE WOMEN is based on the 1868 novel of the same name by Louisa May Alcott and is slated to premiere on tvN in the first half of 2022
• Represented by MSteam, a wholly-owned subsidiary of Spackman Media Group, Wi Ha-jun was appointed as the ambassador for his hometown, Wando-gun of South Korea, this month

SINGAPORE – Media OutReach – 27 January 2022 – Spackman Entertainment Group Limited (the “Group“), one of Korea’s leading entertainment production groups, wishes to announce that Wi Ha-jun of MSteam Entertainment Co., Ltd. (“MSteam“), a wholly-owned subsidiary of the Group’s associated company, Spackman Media Group Limited (“Spackman Media Group“), is set to star in upcoming tvN K-drama,   LITTLE WOMEN.

Produced by Studio Dragon and directed by Kim Hee-won, LITTLE WOMEN is based on the 1868 novel of the same name by Louisa May Alcott. The tvN K-drama tells the story of three poor sisters who encounter an elite-educated financial consultant (played by Wi Ha-jun) and their face-off against one of Korea’s wealthiest and most powerful families. Kim Go-eun of THE KING: ETERNAL MONARCH (2020), THE LONELY SHINING GOD – GOBLIN (2016-2017) and CHEESE IN THE TRAP (2016) plays the other lead in the K- drama. LITTLE WOMEN is scheduled to premiere on tvN in the first half of 2022.

Last month, Wi Ha-jun was appointed as the ambassador for his hometown, Wando-gun of South Korea. Previously, Wi Ha-jun starred in the original Korean series, SQUID GAME, the #1 show across over 90 countries including the US and Korea on Netflix. Through his role as Hwang Jun-ho, a policeman in SQUID GAME, Wi Ha-jun has emerged as an internationally recognized actor.

Wi Ha-jun also stars in highly popular K-drama BAD AND CRAZY, which  reached first place in viewership ratings for the same time period over the past consecutive weekends, since its release on 17 December 2021. 

Wi Ha-jun was also selected as the brand ambassador for the American premium casual brand BEENTRILL and released a beauty pictorial with YSL beauty in December 2021. He also headlined in Korean crime thriller film MIDNIGHT (2021), which received the Best Feature Award at the 13th UK Grimmfest Film Festival.

Other than Wi Ha-jun, MSteam also represents iconic Korean actress Son Ye-jin, who starred in hit romance drama CRASH LANDING ON YOU (2020), and top actress Lee Min-jung, who won the Top Excellence Award at the 2020 APAN Star Awards.

About Spackman Entertainment Group Limited

Spackman Entertainment Group Limited (“SEGL” or the “Company“), and together with its subsidiaries, (the “Group“), is one of Korea’s leading entertainment production groups. SEGL is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea.

The Company was founded in 2011 by media and technology investor Charles Spackman who served as the Company’s Executive Chairman until 2017. For the past two decades, Mr. Charles Spackman has been a powerhouse in the Korean entertainment industry starting in the early 2000’s with the pioneering success of Sidus Pictures, the largest movie production company at the time and the first to be listed in Korea. Mr. Spackman is also the Founder, Chairman and Chief Executive Officer of the global investment firm, Spackman Group. For more information, please visit http://www.charlesspackman.com

Since its founding, SEGL had produced more than 30 major motion pictures including a number of the highest grossing and award-winning films in Korea, namely #ALIVE (2020), CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS (2015), SNOWPIERCER (2013), COLD EYES (2013) and ALL ABOUT MY WIFE (2012).

Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. Generally, we release our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets.

The Group also invests into and produces Korean television dramas. In addition to our content business, we also own equity stakes in entertainment-related companies and film funds that can financially and strategically complement our existing core operations. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E.

Production Labels

SEGL owns Novus Mediacorp Co., Ltd. (“Novus Mediacorp“), an investor, presenter, and/or post-theatrical distributor for a total of 79 films (58 Korean and 21 foreign) including ROSE OF BETRAYAL, THE OUTLAWS and SECRETLY, GREATLY, which was one of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS, as well as FRIEND 2: THE GREAT LEGACY. In 2012, Novus Mediacorp was also the post-theatrical rights distributor of ALL ABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by Novus Mediacorp broke the all-time highest Video On Demand (“VOD“) sales records in Korea. For more information, please visit http://novusmediacorp.com

The Company owns a 100% equity interest in Simplex Films Limited (“Simplex Films“) which is an early stage film production firm. The maiden film of Simplex Films, JESTERS: THE GAME CHANGERS (2019), was released in Korea on 21 August 2019. Simplex Films has several line-up of films including HURRICANE BROTHERS (working title).

The Company owns a 100% equity interest in Take Pictures Pte. Ltd. (“Take Pictures“) which produced STONESKIPPING (2020) and THE BOX (2021), and shall release GUARDIAN (working title) in 2021 tentatively.

The Company owns a 100% equity interest in Greenlight Content Limited (“Greenlight Content“) which is mainly involved in the business of investing into dramas and movies, as well as providing consulting services for the production of Korean content. Through the acquisition of Greenlight Content, the Group’s first co-produced drama, MY SECRET TERRIUS, starring top Korean star, So Ji Sub, achieved #1 in drama viewership ratings for its time slot and recorded double digits for its highest viewership ratings. Greenlight Content was one of the main investors of MY SECRET TERRIUS.

The Company owns a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be THE ISLAND OF THE GHOST’S WAIL, a comedy horror film.

Talent Representation

The Company holds an effective shareholding interest of 43.88% in Spackman Media Group Limited (“SMGL“). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MSteam Entertainment Co., Ltd. (Son Ye-jin, Lee Min-jung, Ko Sung-hee), UAA&CO Inc. (Song Hye-kyo, Yoo Ah-in, Park Hyung-sik), Fiftyone K Inc. (So Ji Sub, Ok Taec-yeon), SBD Entertainment Inc. (Son Suk-ku), and Kook Entertainment Co., Ltd. Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company. For more information, please visit http://www.spackmanmediagroup.com

The Company owns a 100% equity interest in Constellation Agency Pte. Ltd. (“Constellation Agency“). Constellation Agency, which owns The P Factory Co., Ltd. (“The P Factory“) and Platform Media Group Co., Ltd. (“PMG“), is primarily involved in the business of overseas agency for Korean artists venturing into the overseas market. The P Factory is an innovative marketing solutions provider specializing in event and branded content production. PMG is a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements and branded entertainment.

Strategic Businesses

The Company owns a 100% equity interest in Frame Pictures Co., Ltd. (“Frame Pictures“). Frame Pictures is a leader in the movie/drama equipment leasing business in Korea. Established in 2014, Frame Pictures has worked with over 25 top directors and provided the camera and lighting equipment some of Korea’s most notable drama and movie projects including ITAEWON CLASS (2020), HOW TO BUY A FRIEND (2020), KIM JI-YOUNG, BORN 1982 (2019), FOUR MEN (2019) and ASADAL CHRONICLES (2019).

We also operate a café-restaurant, Upper West, in the Gangnam district of Seoul and own a professional photography studio, noon pictures Co., Ltd.

For more details, please visit http://www.spackmanentertainmentgroup.com/

#SpackmanEntertainmentGroup

• 78% of employers find it difficult to fill job roles due to shortage of talent with relevant skillsets.
• Only 10% of employees in Singapore say that they are actively looking for a new job.
• The top three reasons cited by employees for remaining in their current roles are ‘being satisfied with the current role’ (60%), ‘satisfaction with the current pay’ (33%), and ‘current company provides job security’ (24%).  

SINGAPORE – Media OutReach – 27 January 2022 – More employers (65%) look to augment their workforce, compared to a year ago (56%) with businesses looking to 2022 with optimism. However, out of those who are hiring or intending to hire new talent, four in five (78%) of them are facing a challenge in filling job roles due to a lack of talent with relevant skillsets. This talent crunch may be exacerbated with only one in ten employees (10%) actively looking for a new job. Most employees (60%) are open but not actively looking for a new job, whereas 30% of employees are not looking and would remain in their current roles.  

These are some key findings from NTUC LearningHub‘s recently launched Emerging Jobs and Skills Report, where over 650 working professionals from Singapore were surveyed in December 2021. The respondents comprised both employers and employees from the six main industry clusters in Singapore, with the aim to uncover a dual perspective about the current job market, emerging jobs and skills, as well as the training landscape.  

The report reveals that industry clusters facing a greater talent crunch are Modern Services (87%), Manufacturing (83%) and Essential Domestic Services (80%). These include roles in Infocomm Technology (ICT) and Media, Energy and Chemicals, and Healthcare respectively.  

Correspondingly, the report also uncovers that employees working in Essential Domestic Services are the least likely to actively look for new employment (only 6% are actively looking), followed by Manufacturing (7%) and Modern Services (10%). When asked about the reasons for not actively job searching, the top three reasons given by employees are ‘being satisfied with the current role’ (60%), ‘satisfaction with the current pay’ (33%), and ‘current company provides job security’ (24%).  

Commenting on the findings, NTUC LearningHub’s Anthony Chew, Director of ICT, says, “To plug the skills chasm, companies could benefit from upskilling both existing and new employees to boost their workforce competencies and meet business objectives. NTUC LearningHub has been working closely with companies to curate outcome-focused training to place employees with latest industry-relevant skills set in their companies. This is achieved through our ‘train and place’ and ‘place and train’ programmes where we work with employers and NTUC’s e2i to match them with mid-career switchers who have reskilled through our programmes, or help their new hires undergo targeted classroom training and on-the-job training. Both programmes enable talents to seamlessly transition into their new roles. For example, to help companies overcome the talent crunch in the ICT sector, NTUC LearningHub has been working with employers in the sector to place and subsequently train new employees in both tech-lite and deep-tech job roles.”

He adds, “Through these programmes, companies can also tap on various training resources, government funding and support schemes. We urge employers who are facing talent shortages to work with us and leverage these programmes to cast a wider net for qualified candidates.”

To download the Emerging Jobs and Skills Report, visit www.ntuclearninghub.com/emerging-jobs-and-skills-2022. To find out more about NTUC LearningHub’s courses, training and grants, visit www.ntuclearninghub.com/. 

About NTUC LearningHub

NTUC LearningHub is the leading Continuing Education and Training provider in Singapore which aims to transform the lifelong employability of working people. Since our corporatisation in 2004, we have been working with employers and individual learners to provide learning solutions in areas such as Cloud, Infocomm Technology, Healthcare, Employability & Literacy, Business Excellence, Workplace Safety & Health, Security, Human Resources and Foreign Worker Training.

To date, NTUC LearningHub has helped over 25,000 organisations and achieved over 2.6 million training places across more than 500 courses with a pool of over 900 certified trainers. As a Total Learning Solutions provider to organisations, we also forge partnerships and offer a wide range of relevant end-to-end training solutions and work constantly to improve our training quality and delivery. In 2020, we had accelerated our foray into online learning with our Virtual Live Classes and, through working with best-in-class partners such as IBM, DuPont Sustainable Solutions and GO1, asynchronous online courses.

For more information, visit www.ntuclearninghub.com.

#NTUCLearningHub

HONG KONG SAR – Media OutReach – 27 January 2022 – Facing a fifth wave of Covid-19, Hong Kong’s near-term economic outlook is increasingly uncertain, according to one of the world’s largest professional accounting organisations. To boost confidence and protect recent economic gains, CPA Australia recommends the government offer an enhanced version of the electronic consumption voucher in the upcoming budget.

CPA Australia estimates the Hong Kong SAR Government will record a HKD37.1 billion fiscal deficit for 2021-22 and fiscal reserves will be HK$ 865 billion. These estimates take into consideration projected revenue, expenditure and adjustments for the year.

Improving living standards

Mr Anthony Lau, Co-Chairperson of CPA Australia’s Taxation Committee – Greater China said, “As one of the earliest proponents for the distribution of consumption vouchers to support the local economy, we are delighted to see the better-than-expected results of the consumption voucher scheme. Our members tells us the scheme has supported many businesses through increased customer spending and accelerated digital transformation.

“This year, we recommend the government consider offering an enhanced two-tier version of the scheme to help defend the economy from the fifth Covid-19 wave by boosting local consumption. Subject to affordability, the base amount could be up to HK$3,000 for all eligible Hong Kong residents. The second tier, targeting vulnerable groups such as low-income earners, could receive an additional payment of up to HK$3,000 to alleviate their financial burden. These vouchers will continue to promote the uptake of digital payment technologies in Hong Kong.

“Further, we recommend that the government consider introducing a one-time tax deduction for quarantine expenses for hotel accommodation with a suggested cap of HK$50,000, as well as introducing a one-time tax deduction for additional costs incurred by employees in working from home, capped at around HK$8,000.

“Other measures could include increasing child allowance to HK$150,000 per child and expanding the dependent parent allowance and dependent grandparent allowance to include dependent parents and grandparents residing outside of Hong Kong.”

Increasing labour supply

Mr Janssen Chan, Co-Chairperson of CPA Australia’s Taxation Committee – Greater China said, “According to the latest government figures, monthly average over 100,000 private sector job vacancies were recorded in the fourth quarter of 2021, representing a surge of nearly a 75 per cent year-on-year. Labour and talent shortages at this level present a real risk to Hong Kong’s economic growth and long-term competitiveness.

“We recommend the government consider introducing measures to address this issue, such as allowing non-local students to stay longer in Hong Kong. This could be done by extending the initial 12 months time limitation under the Immigration Arrangements for Non-Local Graduates.

“Facing the dual challenges of labour and talent shortages and an ageing population, the government should encourage more employers to hire or reemploy Hong Kong residents aged 60 and above. To achieve this, we suggest increasing the maximum amount of on-the-job training allowance for employees aged 60 and over under the Employment Programme for the Elderly and Middle-aged to HKD8,000. The government should also consider introducing an additional tax deduction on salaries for companies hiring employees aged 60 and over, with a suggested cap of HK$120,000 per employee per year. We hope the government will invest sufficient resources to address these perennial societal issues.”  

Supporting businesses

Chan said, “We are pleased that the government acted quickly in response to the fifth Covid wave by announcing further support for hard-hit sectors through the HK$ 3.75 billion fifth round of the Anti-epidemic Fund. However, based on experiences in other markets, we expect the negative impacts on businesses of this wave will last for several months, especially for SMEs.

“Given the uncertain short-term business outlook created by the fifth wave, we suggest the government consider introducing a series of measures to support SMEs. These include extending the maximum duration of principal moratorium to 30 months for the 80 per cent Guarantee Product, 90 per cent Guarantee product and Special 100 per cent Loan Guarantee under the SME Financing Guarantee Loan Scheme. The application period for the Special 100 per cent SME Financing Guarantee Loan Scheme should also be extended to the end of 2022. The Pre-approved Principal Payment Holiday Scheme should be extended until the end of October 2022.

Lau added, “Sixty-seven per cent of surveyed members recently stated they are waiting on the details of the tax concession for family offices before taking action. We therefore suggest that the government expedite the release of the tax concessions regime for family offices.”

Tax reform measures

Lau said, “Eighty-four per cent of surveyed members believe that changes should be made to the Hong Kong tax system as a response to the city’s inclusion in the European Union’s “Grey List” of non-cooperative tax jurisdictions. Further, 39 per cent believe that the proposed global minimum tax regime will be a significant concern to their organisation’s growth objectives.

“With these developments creating uncertainty for businesses, we suggest the government announce measures to address the city’s inclusion in the “Grey List” and provide details on how they will respond to BEPS 2.0, including clarity on the implementation of a domestic minimum tax.

“To maintain Hong Kong’s international competitiveness in a changing tax environment, we suggest the government commission a comprehensive reform of the tax system. Such a review should focus on the three ‘Cs’ – certainty, clarity and consistency.”

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with more than 168,000 members in over 100 countries and regions, including more than 21,000 members in Greater China. CPA Australia has been operating in Hong Kong since 1955 and opened our Hong Kong office in 1989. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at cpaaustralia.com.au

#CPAAustralia

The issuer is solely responsible for the content of this announcement.