10

0

General

Korea's largest internet portal Naver invests $90 million USD in YG Entertainment

Posted by yckim124764 pts Friday, March 17, 2017
misc.
South Korea's largest internet portal Naver has officially established a partnership with YG Entertainment.


On March 17, media outlets reported that Naver is investing around $90 million USD in the entertainment agency for a 9.14% equity stake. This is the first investment by Naver after the appointment of new CEO Han Sung Sook


With the newly established partnership, Naver and YG Entertainment- one of Korea's biggest entertainment agency- are expected to create great synergy and produce diverse global content. 


SEE ALSO: Five Korean dramas invited to the Cannes International Series Festival


Naver has also become the second largest stakeholder in YG Entertainment following its founder. 


Regarding the new partnership, a rep from YG Entertainment stated, "We can now look forward to a stable growth in the changing global environment with increased content accessibility through Naver, which attracts global users through Naver, V Live, LINE, Snow, and more."


YG Entertainment previously received an $80 million investment from LVMH (Parent company to Louis Vuitton, Dior, Fendi, and many other companies) along with an $85 million investment from Tencent (one of China's largest internet companies).

  1. misc.
  2. YG ENTERTAINMENT
  3. NAVER
0 60,046 Share 100% Upvoted

allkpop in your Inbox

THE TOP 10 STORIES DELIVERED DAILY
Kim Sae Ron, Kim Soo Hyun
Kim Sae Ron, Kim Soo Hyun, Sohee, WOODZ
Apink, Park Bo Gum, Jun (Lee Jun Young)
Park Ji Hoon
misc.
aespa, Suho, Chanyeol, Hearts2Hearts, WayV, NCT WISH, NCT 127, NCT Dream, nævis, Red Velvet, RIIZE, SHINee, Key, Minho, SMTR25, Super Junior, TVXQ
Kim Sae Ron, Kim Soo Hyun
Kim Sae Ron, Kim Soo Hyun, Sohee, WOODZ
tripleS
BLACKPINK, Lisa
Red Velvet, Wendy
BLACKPINK, Lisa
NewJeans
STAYC
Kim Ho Joong
New Message

SEND