An SK Telecom Co. Jump AR app user takes a photo with a digital version of a member of K-pop band STAYC in this photo provided by the company on May 19, 2021.
SEOUL, Oct. 26 (Korea Bizwire) — Kakao Entertainment, an entertainment arm of tech giant Kakao Corp., said Monday it will participate in Metaverse Entertainment, a subsidiary of game developer Netmarble F&C Inc., as a strategic investor.
The company will acquire 80,000 new shares for 12 billion won (US$10.2 million) through a third party allotment in capital increase with consideration.
Metaverse Entertainment plans to unveil a K-pop virtual idol group by the end of next year.
According to the company, Netmarble F&C’s meta human technology and Kakao Entertainment’s management capability will be leveraged to create the idol group.
To create long-term synergy effect, Kakao Entertainment’s professional staff will join Metaverse Entertainment.
Metaverse Entertainment plans to carry out a variety of character-related metaverse projects integrating Kakao Entertainment’s story intellectual properties such as webtoons and web novels with Netmarble F&C’s game characters.
J. S. Shin (js_shin@koreabizwire.com)
