Kakao Entertainment CEO Jinsoo Lee: "We Will Triple the Global Integrated Transaction Volume of the Story Business Within 3 Years"

[Asia Economy Reporter Kang Nahum] Kakao Entertainment announced a new global vision on the 8th, aiming to triple the global integrated transaction volume of its story business within three years.

Jinsu Lee, CEO of Kakao Entertainment, stated, "We will triple the global transaction volume within three years," adding, "To achieve this, we will focus investments in North America and ASEAN while jointly entering the French market with Piccoma to create a new webtoon company."

He added, "The year 2021 was a meaningful year in which Kakao Page, Kakao M, and Melon built a massive intellectual property (IP) value chain called Kakao Entertainment. Based on this content ecosystem, we will now compete with global giant IP companies."

This year, Kakao Entertainment sequentially launched its webtoon platform Kakao Webtoon in Thailand, Taiwan, and domestically. By acquiring the webtoon platform Tapas and the web novel platform Radish, it has also prepared to expand its influence to North America, the world's second-largest comics market and the largest novel market.

Kakao Entertainment plans to focus its platform know-how and content capabilities on North America and ASEAN to achieve qualitative growth through explosive sales growth, while expanding its content front to France. Currently, the webtoon platform Tapas and the web novel platform Radish are collaborating on content in the North American market, and within the year, they will jointly enter France with Kakao Piccoma.

In particular, Kakao Entertainment and Piccoma plan to create strong synergy in France, a new global collaboration stage. France traditionally has a strong preference for Japanese manga, making the alliance with Kakao Piccoma essential. Kakao Entertainment, which has about 100 global localization experts, is nearly ready to supply premium IP to France.

Kakao Entertainment aims to establish itself as a solid content leader in France, the foothold for the European market, and build a substantial presence comparable to global entertainment giants.

CEO Lee said, "With strategic focus on the North American and ASEAN markets and the French alliance with Piccoma, Kakao Entertainment will root K-story across all language zones," adding, "Based on this, Korean creators will be able to freely thrive on the global stage."