Kakao Entertainment

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Kakao Entertainment Corp.
Native name
 주식회사 카카오엔터테인먼트
Private subsidiary
Industry
Predecessor
(as separate companies)
Founded March 2, 2021; 3 years ago (2021-03-02)[1]
Headquarters South Korea
Key people
 Joy Lee (CEO)
Stephan Kim (ko) (CEO)[lower-alpha 1]
Products
Services
Owner
  • Kakao (63.50%)
  • Podo Asia B.V. (15.33%)
  • Joy Lee (0.96%)
  • Others (20.21%)
Parent Kakao
Divisions
  • Page Company
  • M Company
Subsidiaries see list
Website KakaoEnt.com

Kakao Entertainment Corp. (Hangul: 주식회사 카카오엔터테인먼트), stylized as kakao ENTERTAINMENT, is a South Korean entertainment, mass media, and publishing company founded in 2021. A subsidiary of the internet company Kakao, it was established subsequent to the merger of the latter's two subsidiaries KakaoPage and Kakao M.[2][3][4]

History

KakaoPage Corp.

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Main article: KakaoPage

Podotree Co, Ltd. was founded on July 20, 2010, as a subsidiary of Kakao, and launched KakaoPage three years later. On August 1, 2018, the company changed its corporate name to KakaoPage Corp.

Kakao M

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Main article: Kakao M

Seoul Records, Inc. was founded in October 1978 by Young Bin Min (ko), the owner of local educational company YBM Group (ko) (formerly Sisa English). In 2005, the company was acquired by SK Telecom and relaunched as LOEN Entertainment, Inc. three years later, before being sold to Star Invest Holdings (a subsidiary of Affinity Equity Partners).

In January 2016, it was taken over by Kakao and renamed again as Kakao M Corp. in December 2017.

In October 2020, the company expanded in Asia by launching a Thailand-based subsidiary called Kakao M Asia (Private) Co., Ltd. (currently Kakao Entertainment Asia Co., Ltd.).[5]

Merger as Kakao Entertainment (2021–present)

In December 2020, KakaoPage Corp. proposed a merger with Kakao M Corp. as a unified company.[6] It was seen as an action by their parent company against US-based Google’s new policy for its app market place users, which would've affected Kakao M, which KakaoTV platform was starting to become popular in South Korea.

Both companies announced the plans and timeline for their merger, as well as the proposed name for the unified company Kakao Entertainment Corp on January 25, 2021.[7] Under the plans, KakaoPage Corp. is the surviving entity.

The merger was completed on March 1, and Kakao Entertainment was formally founded a day later.

On July 15, it was announced that Kakao Entertainment and Melon Company would be merging, with the merger expected to be complete in September 2021.[8]

On September 17, Kakao Entertainment announced that Play M Entertainment and Cre.ker Entertainment would be merging in the future.[9] On November 12, it was announced that the company's new corporate name would be IST Entertainment, which took effect on November 1.[10]

Divisions

Page Company

Headed by co-CEO Joy Lee, the Kakao Entertainment's Page Company is in charge of the company's web fiction publishing and web development business. It is situated in Pangyo, Seongnam in Gyeonggi Province.

M Company

Headed by co-CEO Stephan Kim (ko) - one of South Korea's most renowned entertainment executives - the Kakao Entertainment's M Company is in charge of the company's entertainment and mass media business. Its headquarters is in Teheran-ro, Gangnam-gu in Seoul.

Subsidiaries

Under the Page Company

Under the M Company

Assets

Buildings

  • Jungsuck Building (Seoul) - headquarters of the Kakao Entertainment M Company
  • The Kakao Entertainment M Company also owns a building at Samseong-dong in Seoul, where the headquarters of IST Entertainment and Flex M are located.

Internet properties

Locations

See also

Notes

  1. ↑ Also concurrent chairman and head of Corporate Alignment Center of parent company, Kakao.
  2. ↑ joint venture with Kakao Games

References

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External links

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