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Kakao Page and Kakao M announced on the 4th that they completed the merger process of the two companies and launched Kakao Entertainment.
Through the combination of commercial IP (Intellectual Property Rights) capabilities and platform network, Kakao Entertainment covers all fields and genres of entertainment, from original IP stories, such as webtoons and web novels, to planning and content production, such as music, video, digital presentations and global platform networks, highlighted that it has secured a business portfolio and a encompassing value chain. Based on this, the goal is to become a global entertainment company by seriously targeting the global market.
It also plans to expand strategic alliances with domestic and foreign partners and make investments to play a leading role in the growth of the Korean entertainment industry.
Seongsu Kim (left) and Jinsoo Lee, each representing Kakao Entertainment[사진=카카오엔터테인먼트 제공]
Kakao Entertainment is a representative system, led by CEO Kim Seong-soo and Lee Jin-soo.
It is made up of M Company and Page Company by introducing the CIC (Internal Independent Company) system. CEO Kim is in charge of ‘M Company’, which focuses on the content business such as music, video and digital, and Lee is in charge of ‘Page Company’, which focuses on the intellectual property of stories and businesses of platforms like webtoon and web novels. . The global business is run by CEO Lee.
To maximize synergy between CICs, Kakao Entertainment establishes the ‘Synergy Center’ under the direct control of the CEO, and Kwon Ki-soo, head of Kakao M’s management support division, is the head of the center. The Synergy Center operates finances, personnel and strategies in the form of TF (Task Force), and is in charge of establishing strategies to improve the synergy between each business and to harmonize in a stable way the members of the organization. At the time of the merger between Daum Communications and Kakao in 2014, Kwon was CFO and led the merger between the two companies.
Kakao Entertainment introduced ‘Entertain, Different’ as its vision tagline with the official release. The company said it contained the will to continue the innovation and evolution of the entertainment business through challenges that are not limited by the existing framework.
CEO Lee said: “Kakao Entertainment has built a business portfolio and value chain that spans all content genres. Based on the common DNA of both companies that have grown and evolved through ‘innovation’, the industry of global entertainment through differentiated global competitiveness, expanding our influence in the company ”.
CEO Kim said: “By accelerating the innovation and evolution of the content business, not only to become a global entertainment company, but also to reinvigorate investment in new content and IP, and provide more opportunities for competent talent across the entertainment industry. It will contribute to the growth of the company and spread the good influence. “
[사진=카카오엔터테인먼트 BI]
