YG Entertainment and NBC Universal are both set to co-produce the upcoming drama, "Scarlet Heart: Ryeo" (also known as "Moon Lovers").

This is the first time the two companies are collaborating, and the first time that NBCUniversal is directly investing in a South Korean drama. The star-studded drama has been garnering attention and buzz for casting many big name stars likes of Lee Joon Ki, IU, Kang Ha Neul, EXO's Baekhyun, Girls' Generation's Seohyun, Hong Jong Hyun, and more.

YG Entertainment will finance and produce the SBS Drama, and also be involved in cross-promotional marketing. The announcement comes at a time when YG Entertainment and other K-pop entertainment companies are looking to diversify their revenue sources.

YG, one of South Korea's largest music companies, has produced and sponsored multiple reality shows based around their musical acts.

Last September, NBCUniversal announced that it planned to invest $10 million USD into the South Korean drama. NBCUniversal has previously purchased the rights to several South Korean shows, but this is the first drama that the company is investing in.

"Scarlet Heart: Ryeo" is a Korean remake of the popular Chinese drama, "Scarlet Heart." The Korean version is set to air in South Korea later this year. Both are based on the fantasy novel "Bu Bu Jing Xin" by Chinese author Tong Hua.