Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) hYUNJIN KIM Journalist = Kakao Entertainment said it secured a 1.2 trillion won investment from leading sovereign wealth funds.

The funds will acquire new shares in third-party allotment by Kakao Entertainment.

After bringing this huge fund-raising, the executive vice president at the Korean content conglomerate said,"Amid lack of investors' confidence due to pervasive economic uncertainty in Korea and the global market, we raised much inspiring capital from foreign institutions, including prominent sovereign wealth funds."and added,"our differentiated IP value chain that encompasses all entertainment areas proved its competitiveness and growth potential on the international stage through successful fund-raising."

The investment also acknowledges its unique IP value chain across story, media, and music and growth potential at home and abroad.

An intensive investment in global business will follow to realize the Kakao community's future vision,"Beyond Korea,"and set its position as a leading international entertainment company driving the"K-culture"wave.

Thanks to the recent investment, its global blueprint for each division will be more visible.

NSP News Agency hYUNJIN KIM Journalist kimhj30310@nspna.com
Copyright ⓒ Korea's economic news agency NSP NEWS·NSP TV. All rights reserved-Redistribution Prohibited.