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Kakao Entertainment

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Kakao Entertainment Corp.
Native name
주식회사 카카오엔터테인먼트
Company typePrivate Subsidiary
Industry
Predecessor
(as separate companies)
FoundedMarch 2, 2021; 3 years ago (2021-03-02)[1]
Headquarters
South Korea
Key people
Joy Lee (CEO)
Stephan Kim [ko] (CEO)
Products
Services
Owner
  • Kakao 63.50%
  • Podo Asia B.V. 15.33 %
  • Joy Lee (CEO) 0.96%
  • Others 20.21%
ParentKakao
Divisions
  • Page Company
  • M Company
Subsidiariessee list
WebsiteKakaoEnt.com

Kakao Entertainment Corp. (Korean: 주식회사 카카오엔터테인먼트), stylised as kakao ENTERTAINMENT, is a South Korean entertainment, mass media and publishing company founded in 2021. A subsidiary of the internet company Kakao, it was established as a result of the merger of the latter's two subsidiaries, KakaoPage and Kakao M respectively.[2][3][4]

History

KakaoPage Corp.

Main article: KakaoPage

Podotree Co, Ltd. was founded on July 20, 2010 as a subsidiary of Kakao, and launched KakaoPage three years later. On August 1, 2018, the company changed its corporate name to KakaoPage Corp.

Kakao M

Main article: Kakao M

Seoul Records, Inc. was founded in October 1978 by Young Bin Min [ko], the owner of local educational company YBM Group [ko] (formerly Sisa English). In 2005, the company was acquired by SK Telecom and relaunched as LOEN Entertainment, Inc. three years later, before being sold to Star Invest Holdings (a subsidiary of Affinity Equity Partners).

In January 2016, it was taken over by Kakao and renamed again as Kakao M Corp. in December 2017.

Merger as Kakao Entertainment (2021-present)

In December 2020, KakaoPage Corp. proposed a merger with Kakao M Corp. as a unified company.[5] It was seen as an action by their parent company against US-based Google’s new policy for its app market place users, which would've affected Kakao M, which KakaoTV platform was starting to become popular in South Korea.

On January 25, 2021, both companies announced the plans and timeline for their merger, as well as the proposed name for the unified company, Kakao Entertainment Corp.[6] Under the plans, KakaoPage Corp. is the surviving entity.

The merger was completed on March 1, 2021, and Kakao Entertainment was formally founded a day later.

Divisions

Page Company

Headed by co-CEO Joy Lee, the Kakao Entertainment Page Company is in charge of the company's web fiction publishing and web development business. It is situated in Pangyo, Seongnam in Gyeonggi Province.

M Company

Headed by co-CEO Stephan Kim [ko] - one of South Korea's most renowned entertainment executives - the Kakao Entertainment M Company is in charge of the company's entertainment and mass media business. Its headquarters is in Teheran-ro, Gangnam-gu in Seoul.

Subsidiaries

Under the Page Company

  • AdPage[a]
  • Daon Creative
  • KW Books
  • RS Media
  • Samyang C&C
  • Soundist Entertainment
  • Yeondam

Under the M Company

Assets

Buildings

  • Jungsuck Building (Seoul) - headquarters of the Kakao Entertainment M Company
  • The Kakao Entertainment M Company also owns a building at Samseong-dong in Seoul, where the headquarters of Play M Entertainment, Flex M, and Cre.ker Entertainment are located.

Internet properties

Locations[1]

See also

Notes

  1. ^ joint venture with Kakao Games

References

  1. ^ a b "Kakao Entertainment". Kakao Entertainment Corp. Archived from the original on May 7, 2021. Retrieved May 1, 2021.
  2. ^ Song, Kyoung-son (March 4, 2021). "Kakao M and Kakao Page merged into Kakao Entertainment". Korea JoongAng Daily. Archived from the original on May 7, 2021. Retrieved May 1, 2021.
  3. ^ Park, Sae-jin (January 25, 2021). "Kakao units merged into entertainment company targeting global market". Aju Business Daily. Archived from the original on April 26, 2021. Retrieved May 1, 2021.
  4. ^ Leesa-Nguansuk, Suchit (January 26, 2021). "South Korea's Kakao affiliates to merge". Bangkok Post. Retrieved May 1, 2021.
  5. ^ Kang, Doo-soon; Oh, Dae-seok; Kang, Woo-seok; Kang, Young-woon; Cho, Jeehyun (December 3, 2020). "Kakao Page close to merging with Kakao M before IPO". Maeil Business News Korea. Archived from the original on April 28, 2021. Retrieved May 1, 2021.
  6. ^ "Launch of KAKAO ENTERTAINMENT through strategic merger of Kakao Page and Kakao M". Kakao Page Corp. Archived from the original on April 28, 2021. Retrieved May 1, 2021 – via PR Newswire.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Kakao_Entertainment&oldid=1024367643"