SEOUL — South Korean tech conglomerate Kakao Corp said on Thursday unit Kakao Entertainment secured a 1.2 trillion won investment from leading sovereign wealth funds.
Singapore's GIC and Saudi Arabia's Public Investment Fund decided to each invest 600 billion won in the entertainment firm, local newspaper Korea Economic Daily reported on Thursday, citing unnamed investment banking sources. Kakao Corp shares rose one per cent in early morning trade, outperforming a 0.2 per cent rise in the wider market.
Unlisted Kakao Entertainment has a business portfolio ranging from K-Pop — including artist management — to shows, movies, and online-targeted, comparatively low-cost content such as comics called webtoons and serial web novels.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »