Kakao Subsidiaries Radish Media and Tapas Media Absorption Merger

[Asia Economy Reporter Lee Jung-yoon] Kakao announced on the 19th that its subsidiary Radish Media will merge with another subsidiary, Tapas Media.

The merger ratio is 1:18, and the merger date is set for August 1. The purpose of the merger is to expand a strong IP value chain and story business through the strategic merger of North American webtoon and web novel platforms. Kakao Entertainment holds 100% and 94.58% stakes in Tapas Media and Radish Media, respectively.