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Kakao M Enters the Korean Entertainment Market
Plans to Enter Global Content Market by Securing Korean Wave Stars
A subsidiary of KakaoTalk (www.kakaocorp.com), company that evolved from being an instant messenger application to a complete IT firm, Kakao M (www.kakao-m.com) has seen its influence grow by creating partnerships with major management agencies in Korea. “In order to enter the K Content Global Market, we signed contracts with three agencies, BH Entertainment, J,Wide-Company , and MANAGEMENT SOOP, as well as Korea’s leading model agency, Ready Entertainment, to build a cooperative network of strategic investment and partnership.” Kakao M said in a press release on June 27th.
Established in 2006 and co-directed by CEOs SON Seok-woo, KIM Seon-yong and PARK Jae-soon, BH Entertainment (http://www.bhent.co.kr/?page_id=25) is well known for being actor LEE Byung-hun’s agency. The company currently represents actors and actresses like HAN Ji-min, HAN Hyo-joo , HAN Ga-in, JANG Young-nam , KIM Go-eun , CHU Ja-hyeon , KO Soo, Sean Richard, LEE Hee-jun and JIN Goo. On the other hand, J,Wide-Company (www.jwide.co.kr) is home to actors LEE Sang-yun and CHOI Daniel as well as actress KIM Tae-ri , Seen in The Handmaiden (2016), while MANAGEMENT SOOP (www.soopent.com) represents GONG Yoo, KONG Hyo-jin, JEON Do-yeon and more.
“Kakao M is expected to play an influential role by forming a value chain in all fields of the video industry.” said the company after securing its “army” of Korean Wave stars. Moreover, through advertisement model casting agency Ready Entertainment’s Chinese subsidiary and its international network, Kakao M plans on seeking different ways to expand its influence globally. At the same time, the company will complete its production system that implements the Intellectual Property Rights owned by Kakao (https://www.kakaocorp.com/?lang=en), as well as hire new famous writers and directors.
Kakao M also established a mobile video production company named Krispy Studio last January, and in May, Mega Monster, a joint drama production company with the studio behind Goblins, Studio Dragon (http://www.studiodragon.net/front/en/main/main), thus steadily expanding its influence in the video production business. Kakao M’s CEO, LEE Jae Wook, said: "We will maximize profits by completing a value chain that includes actors, producers, and advertisers, and I believe we will lead the market of K-Contents in a short period of time”
