Kakao Entertainment Acquires Additional Shares of US Corporation for 406.8 Billion KRW

[Asia Economy Reporter Lee Junhyung] Kakao announced on the 5th that its subsidiary Kakao Entertainment will additionally acquire 116,784,073 shares of Radish Media, a North American English novel content platform operator in the United States, for approximately 406.8 billion KRW.

After the acquisition, the shareholding ratio will be 99.14%. The scheduled date for the stock acquisition is the 25th.

Kakao stated that the purpose of the stock acquisition is to "establish a foothold for strengthening entry into the English-speaking market."

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