SEOUL, March 24 (Korea Bizwire) — JYP Entertainment, the K-pop agency that manages acts like TWICE and 2PM, on Wednesday announced it will sign a strategic partnership with Chinese technology giant Tencent. Under the deal between JYP and Tencent Music Entertainment Group (TME), JYP will provide music to TME’s platforms, like QQ Music, Kugou Music, [...]
SEOUL, Sept. 9 (Korea Bizwire) – A recent report by the Korea Creative Content Agency (KOCCA) revealed that the volume of Chinese capital invested in the Korean videogame industry – apart from back-door listings and securing intellectual property purposes – has plummeted to almost zero, after years of aggressive M&A efforts that shook up Korean [...]
SEOUL, May 27 (Korea Bizwire) – South Korean music company YG Entertainment on Friday said it has attracted 100 billion won (US$85 million) in investment from the Chinese online giant Tencent and mobile ticketing service, Beijing Weiying Technology Co. YG said its CEO Yang Min-suk will sign an investment deal with Suman Wang, who is in [...]
SEOUL, March 10 (Korea Bizwire) – Big-spending Chinese game companies armed with significant financial resources are rushing into the Korean market. As the ‘allies’ are engaged in strategic collaboration followed by equity acquisition, some industry officials are concerned that Korean game developers might fall into the hands of Chinese gaming companies. However, some consider the [...]
SEOUL, May 15 (Korea Bizwire) – Samsung Electronics, South Korea’s top smartphone maker, managed to stay on the top 10 list of global tech players this month in terms of market capitalization but suffered a one notch decline from end-2014 apparently due to a plunge in earnings. Samsung ranked No. 10 among other major tech [...]
SEOUL, Feb. 17 (Korea Bizwire) — South Korea’s No. 2 online game developer NCsoft , facing a possible hostile takeover by top player Nexon, joined Tuesday with a smaller local rival to protect its management control, as the dispute is about to reach a boiling point ahead of NCsoft’s crucial shareholders meeting slated for next month. [...]
SEOUL, Dec. 3 (Korea Bizwire) – YG Entertainment, one of Korea’s top three talent agencies, signed an agreement with Tencent, China’s leading IT firm, to jointly produce and expand the distribution of K-wave content in China. On December 2, the two companies sealed the MOU for their strategic partnership in Hong Kong. According to the [...]
SEOUL, Sept. 3 (Korea Bizwire) – A Korean mobile game producer, PATI Games, announced it has successfully secured 20 billion won (US$19.7 million) of capital investment from Tencent, China’s largest Internet service provider. PATI Games announced on September 1 that Tencent would invest the amount through the third-party allocation of new shares. With this capital [...]
SEOUL, July 30 (Korea Bizwire) — When President Xi Jinping of China visited South Korea earlier this month, around 200 business delegates, including CEOs of major Chinese IT companies like Alibaba, Baidu, Huawei and China Telecom, accompanied him on the trip. All of the Chinese companies are reportedly, gearing up to push deeper into Korean market with [...]
BEIJING, June 25, 2014 (Korea Bizwire)–Digital wallets1 adoption is growing in China, according to a new report from Forrester Research, Inc. (FORR). The growth is attributed to the burgeoning eCommerce market, explosive growth of smartphone penetration, and mobile payment technologies in recent years that have made digital wallets a convenient payment option. Aggressive promotional [...]