Kakao Entertainment sheds loss-making units, revives IPO prospects

Quick Summary:

Kakao also sold K-pop agency IST Entertainment to Beyond Music, a music intellectual property investment firm, for 26.7 billion won ($18 million) early this year.

IST Entertainment was launched in 2021 through a merger between Kakao’s in-house music label and another Korean entertainment company.IST reported a 4.6 billion won loss in 2024.

The entertainment arm of South Korea’s mobile giant Kakao Corp.is expected to continue divestments, raising expectations that the company could revisit its initial public offering put on hold since 2021.

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Article Details

Category: Economy

Markets: South Korea

Topics: Music Entertainment Company Loss Kakao Billion Year 2024 2022 Firm 2021

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-07 @ 16:36:06 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 490 words

Reading Time: 3 minutes read

Sentences: 28 lines

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Copyright Owner: © Korea Economic Daily

News ID: 27645993

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