The parent of Starship Entertainment, which includes Monsta X and other K-pop acts, says the investment will help “spearhead growth in K-culture worldwide.”
on its roster. Kakao Entertainment also owns the leading South Korean music streaming app Melon, the North America-based webtoon company Tapas Entertainment and several media production companies and is a subsidiary of the tech conglomerate Kakao Corp.
The company plans to use the investment to “spearhead growth in K-culture worldwide,” including expanding its record labels’ reach through distribution partners and its artists’ fanbases through touring, according to a company statement. “It’s significant that we were able to secure funds of this scale at a time when both the Korean and global markets face a lot of uncertainty and investment sentiment is weaker,” said Kakao Corp.’s chief investment officer and executive vpin the statement. “This is [a] testament to the global competitiveness and future growth potential of Kakao Entertainment’s unique IP value chain, which spans multiple categories in the entertainment industry.
Singapore’s GIC and Saudi Arabia’s Public Investment Fund each invested 600 billion won as part of the deal, theKakao Entertainment will issue new shares through a third-party allotment, it said.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
MONSTA X take you behind the scenes of 'Beautiful Liar' photo shoot | allkpopMONSTA X have dropped a behind-the-scenes look at their 'Beautiful Liar' photo shoot.In the making-of above, fans get to see unseen footage o…
Weiterlesen »
MONSTA X's Joohoney displays his vocal prowess on 'Leemujin Service' | allkpopJoohoney (Jooheon), who is a South Korean Rapper and member of MONSTA X, recently took to his Instagram to promote his appearance on Lee Muj…
Weiterlesen »
SpaceX stacks giant Starship rocket again to prep for test flight (video)The huge vehicle could launch to orbit as early as next month.
Weiterlesen »
SpaceX's giant Starship rocket spotted from space (satellite photo)SpaceX is getting Starship ready for its first-ever orbital test flight.
Weiterlesen »
IVE's Wonyoung to bid farewell as MC of 'Music Bank' this week | allkpopIVE's Wonyoung will be saying farewell to viewers of KBS2's 'Music Bank' this week. On January 11, Starship Entertainment notified fans t…
Weiterlesen »
Downtown bar owner proposes temporary cut back of entertainment district hoursLoughlin brought his concerns to the Mobile City Council where he says part of that could be because of some of the crowds in the downtown entertainment district.
Weiterlesen »