A state-run broadcasting ad agency said Wednesday it has signed a deal with a local film studio and distributor to invest 30 billion won ($25.7 million) in financing for the studio's new films and videos for the next four years.

Under the deal with Showbox, behind such recent Korean box-office smashes as "The Thieves" and "The Throne," the Korea Broadcast Advertising Corp. will jointly produce Korean films and video content for various platforms to be distributed by the business partner.

The two sides also agreed to seek ways to cooperate in the fields of advertising, marketing and distribution and in the production and distribution of video content targeting the global market.

"This will be a model case of a win-win relationship between state and private firms each representing their business fields," a KOBACO official said. (Yonhap)