[Asia Economy Reporter Buaeri] Kakao Entertainment announced on the 21st that it has acquired 100% of the shares of content studios 'Dolgorae Yugwidan' and 'Studio Jo.'
Through this acquisition, Kakao Entertainment has expanded its scope to include storytelling commercial content intellectual property (IP).
Dolgorae Yugwidan is a film and advertising studio established in 2007. It presents commercial content enhanced with storytelling. It has been recognized in the industry for its skills through new attempts that break the existing grammar and conventions of advertising, such as "Overwhelming Ssukkeil" and Gransaga's "King of Theater."
Studio Jo is a comprehensive advertising studio established in 2016. Centered around co-CEOs Nam Woori and Song Jaewon, former employees of Cheil Worldwide, it possesses comprehensive capabilities covering the entire process of commercial content. This year, it won six awards at the Korea Advertising Awards.
The company explained that through this acquisition, it will plan and produce various video content based on creative ideas and planning skills to further upgrade Kakao Entertainment's overall capabilities.
Based on the unique abilities of the two studios, the plan is to accelerate the growth of the media business beyond the boundaries of platforms and genres such as mobile, TV, and screen.
Kim Seongsu, CEO of Kakao Entertainment, said, "The popularity of K-content sweeping the globe is due to original creativity that transcends the times and solid storytelling that supports it," adding, "We will actively promote the expansion and evolution of content IP to further expand our influence within the global entertainment industry."
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