[Asia Economy Reporter Buaeri] KakaoPage and Kakao M announced on the 4th that they have completed the merger process and officially launched as 'Kakao Entertainment.'
Kakao Entertainment, aiming for annual sales of 1 trillion won, plans to accelerate its global market expansion.
Kakao Entertainment is led by co-CEOs Kim Seongsu and Lee Jinsu.
Kakao Entertainment has adopted a CIC (Company In Company) system, consisting of M Company and Page Company.
CEO Kim leads 'M Company,' focusing on content businesses such as music, video, and digital, while CEO Lee is in charge of 'Page Company,' centered on story intellectual property (IP) like webtoons and web novels, as well as platform businesses. CEO Lee also oversees Kakao Entertainment's global business.
To maximize synergy between CICs, Kakao Entertainment will establish a 'Synergy Center' directly under the CEOs. Kwon Gisu, who has overseen Kakao M's management support division, will serve as the center director.
The Synergy Center operates as a task force (TF) handling finance, HR, and strategy, responsible for formulating strategies to enhance synergy among businesses and ensuring smooth integration of organizational members. Director Kwon led the merger of Daum Communications and Kakao as CFO in 2014.
With its official launch, Kakao Entertainment presented the vision "Entertain, Different." Based on the innovative DNA of KakaoPage and Kakao M, which have led innovation in content and platform businesses, it expresses the will to continue innovation and evolution in the entertainment business through bold challenges beyond conventional frameworks.
The officially launched Kakao Entertainment will leverage its IP business know-how and capabilities to expand content IP and diversify businesses across all entertainment sectors.
It will focus its capabilities on planning and producing powerful super IPs targeting the global market while reviewing various synergy measures to secure differentiated content competitiveness.
The organic combination of content planning and production capabilities in music and video with optimized domestic and international platform networks for content distribution is expected to further strengthen the competitiveness of existing platform and content businesses.
CEO Lee stated, "Kakao Entertainment has built a business portfolio and value chain encompassing all content genres," adding, "We will expand our influence in the global entertainment industry."
CEO Kim said, "We will further activate investments in new content and IP, provide more opportunities to talented individuals, contribute to the overall growth of the entertainment industry, and spread positive influence."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
