Kakao absorbs acting agencies to make foray into entertainment industry

Park Sae-jin Reporter Posted : 2019-01-02 15:08 Updated : 2019-01-02 15:08
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[Courtesy of BH Entertainment]

SEOUL -- Kakao, a web service company involved in a variety of technology-related businesses, put out its branches into entertainment by absorbing three labels which manage popular actors and actresses as well as an advertising model agency.

Kakao M, an entertainment contents-making wing of Kakao, said in a statement Wednesday that it has acquired BH Entertainment, Soop Entertainment and J, wide-company, which are home to more than 20 high-profile actors and actresses such as Lee Byung-hun, Gong-you and Gong Hyo-jin.

Kakao M controls five music labels including Fave Entertainment, which manages female solo singer IU. The company appointed Kim Sung-soo, the former head of the country's entertainment giant CJ ENM, as new CEO. Kim has been created hit dramas and shows through his unique leadership.

"Kakao M will grow into a strong player in the global contents market through the strong point and growth potential of our music and video contents business," Kim was quoted as saying.