VT GMP "Growing as a Chinese Gateway Platform through KVLY"

[Asia Economy Reporter Yoo Hyun-seok] VT GMP, a KOSDAQ-listed company, announced on the 13th that it has signed a joint venture establishment contract with China’s largest performance planning company, FREEGOS International Entertainment Group (hereinafter FREEGOS), through its affiliate KVLY. KVLY is a newly established corporation in which VT GMP is investing for its media commerce business.

On the 9th, KVLY visited the headquarters of FREEGOS located in Beijing, China, and completed a comprehensive business agreement related to media commerce, including ▲artist performances ▲star and brand collaborations ▲influencer marketing. They also signed a contract for the establishment of the joint venture.

FREEGOS is the largest performance planning company in China. The company has successfully conducted fan meetings and China tour performances for Hallyu stars well known in the past, such as Girls’ Generation and Kim Soo-hyun. VT GMP expects that, based on FREEGOS’s long-standing experience and expertise in large-scale performance planning and star management, it will serve as a foothold for entering the Chinese media commerce market through KVLY in the future.

The company plans to grow KVLY, which is establishing the joint venture in China, into a major gateway connecting Hallyu and Chinese commerce. In particular, since KVLY has sequentially signed partnerships with major Chinese media outlets, it plans to advance into the media commerce market by carrying out comprehensive projects including various planned projects, Hallyu star collaborations, and the development of various content and PB brands.

A VT GMP official said, “Following the news of Wang Yi, China’s Foreign Minister, visiting Korea at the end of last year and the recent arrival of the largest group of Chinese tourists since the THAAD issue, expectations for the lifting of the Hallyu ban are increasing.” He added, “VT GMP operates representative business divisions in cosmetics and media content, which are greatly influenced by Chinese demand. Based on the synergy of KVLY’s new business, which is promoting the establishment of this joint venture, we expect profit generation to accelerate within the first half of the year.”

This content was produced with the assistance of AI translation services.