A new company will direct Kakao Ent. To strengthen its global presence, explore new commercial opportunities
© KAKAO ENTRETIANM
Kakao entertainmentThe parent company of the Roman webtoon / web platform Tapashas created a new subsidiary in the United States to strengthen its global presence and explore new commercial opportunities. The new entity, Kakao entertainment Global (KEG) is based in Los Angeles, California, and will serve as a strategic center of the company for operations abroad. Yoon-Jung Jang, CO-PDG of Kakao entertainmentwill direct the new subsidiary.
This movement follows Kakao entertainmentThe previous collaboration with SM Entertainment to launch a joint venture in North America, mainly focused on the expansion of musical activities such as global tours and the development of new artists. According to the company, Keg and the Kakao -SM joint venture in North America will focus on their respective roles – Keg will direct global initiatives in music, the media and content, while the SM partnership will continue to focus specifically on music -related activities, including album outings, concerts and dissemination appearances.
Although Kakao entertainment Already a business presence in North America, the new subsidiary has been created to support the growing magnitude of its activities abroad and ensure higher operations. The company is currently recruiting local talents, including financial professionals, to strengthen its American operations.
Industry analysts suggest that this decision comes as Kakao entertainment This seems to overcome the recent stagnation of disappointing growth and financial performance by pressing the market abroad.
Kakao entertainment Works in three main areas of activity: music (entertainment and artist management), history (webtoons and web novels) and the media (production). With Keg, the company aims to further globalize these main companies and to secure new sources of income in international markets.
He had recently been According to rumors that Kakao was looking for sale Kakao entertainmentBut on April 10, the CO-PDG Ki-Su Kwon and Yoon-Jung Jang discussed rumors, declaring in an internal bulletin that speculation was “a misunderstanding” resulting from Kakao discussions with financial investors concerning equity changes and the potential replacement of current investment partners.
Source: Inews24 (Yoo-Rim Jung)