Kakao and SM will begin their business cooperation in North America through an integrated subsidiary.
On August 1, Kakao Entertainment announced that it would launch an integrated subsidiary with SM Entertainment in North America.
The two companies plan to establish an integrated subsidiary that pivots to North America, the center of the global entertainment industry, and gradually expands to other global markets such as Europe. The business cooperation aims to firmly establish itself as a global K-pop key player and lead the export of K-culture to the world.
The two companies also plan on building a systematic global 360-degree management system to provide all-rounded assistance and promotion for existing artists on their global activities (starting with IVE and aespa). They will also search for new talents in the new market. Furthermore, Kakao and SM will create new networks with local experts, including signing partnerships with leading entertainment companies, record labels, and worldwide distribution platforms.
Kakao reveals that the two companies will integrate the roles of Kakao Entertainment America and SM Entertainment USA into the North American integrated subsidiary. Their goal is to complete the detailed procedures within this year.
Source: etnews
