Hot Topics:

Pusan fest to launch venture firm

ACTI will start with $7.5 mil of capital

'Empire' to rule Seoul's digital fest

Museum revs up Rialto retrospective

Locarno fest opens door to Mideast

'Elizabeth' reigns in Toronto lineup

'Persepolis' pulled from BKIFF

'Blind Side' tackles box office competition(5001 views)

Spielberg abandons 'Harvey'(1682 views)

Nine(1452 views)

Taylor Lautner to star in 'Max Steel'(1112 views)

Jack Black animates film pitch(1057 views)

Oscar loves foreign actresses(839 views)

SEOUL -- The Pusan Intl. Film Festival is teaming with eight other businesses and organizations to launch South Korea's first venture capital company to specialize in cultural content.

Named ACTI (Asia Culture Technology Investment), the firm will start business with $7.5 million of capital and will be engaged in financing Korean films, TV content, concerts, games, music, animation, publishing, educational projects and digital content.

PIFF, Dongseo U. and venture capital companies KNN and K2&C will make up the largest shareholders in the firm, with additional stakes held by PMC Production, SM Entertainment, Character Plan, Vision Link Global, and Hansol Education.

With its headquarters located in Busan, ACTI expects to give particular consideration to projects that originate in the port city, while also utilizing its contacts in Seoul. The firm will also contribute finance to growth-oriented businesses outside of the cultural contents industry.

A signing ceremony is scheduled to be held Wednesday at Paradise Hotel in Busan, and ACTI will be legally established by early July.