KOSDAQ-listed T-Entertainment has announced it is buying into production company Sio Film. The entertainment conglomerate has acquired a 29.3% stake in the company that produced Park Chan-wook's Old Boy among other hits.

T-Entertainment was formed last year when the publicly listed online games firm Nako Entertainment merged with music specialist T-Entertainment and talent management firm GTB Entertainment, which has stars such as Yoo Ji-tae and Cha Seung-won in its stable.

Last November, the newly formed enterprise also bought into investor/producer Barunson - which is producing Bong Joon-ho's next film as well as Kim Jee-woon's upcoming Oriental Western The Good, The Bad, And The Ugly.

T-Entertainment expects to produce and present at least five films a year. CEO Kim Tae-eun said: 'We'll be expanding our production capabilities to strengthen our film content supply, and create a synergy effect with our established talent management and online game entertainment content.'

Sio Film started producing films in 2003 with action thriller Old Boy, and continued with films such as Ryoo Seung-wan's Cannes boxer drama Crying Fist and action film Big Bang, starring Kham Woo-sung (King And The Clown), which opened in theatres this week.

The company also has contracts with major investors/distributors Showbox Mediaplex and CJ Entertainment.