NEW YORK, Sept. 2, 2020 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq CM: HHT) (the "Company", "we" or "HHT") today announced that its wholly owned subsidiary, Color China Entertainment Limited ("Color China") has officially reached a long-term strategic agreement with the China-Korea Culture and Art Exchange Association in based in Seoul, Korea. In the future, the two parties will leverage each other's advantages to develop cooperation on online star education, brand promotion, peripheral products, and offline training sites.
Korean entertainment market is renowned for strong foundation to groom top-notch Asian stars and artists. Entertainment industry in Korea is mature and equipped with substantial resources to breed stars. We provide a global online training and education platform for the Korean artists and singers to expand their markets coverage and at the same time, the Company is benefited in its overall brand image and market impact.
Mr. Biao Lu, CEO of Color Star Technology Co., Ltd. comments, "it is a fantastic opportunity for Color China to strategically tap on the richly potential and lucrative Korean entertainment market. The profound establishment of the entertainment industry there shall bring tremendous long-term benefits to the company while Korean stars and celebrities will further thrive on our global online platform. Furthermore, stars are carrying along commercially strong peripheral merchandises which will generate meaningful revenues for the company."