The Pinkfong Company Signs Memorandum of Understanding with Saudi Investment Ministry
Supported in Content Export, Business Development, and Localization
The Pinkfong Company announced on the 16th that it has signed a memorandum of understanding (MOU) with the Saudi Arabian Ministry of Investment, becoming the first domestic animation company to do so, to expand local business. Going forward, they will share trends in Saudi Arabia's family entertainment industry and intellectual property (IP) growth strategies, and participate in conferences, exhibitions, and roadshows. The Saudi Ministry of Investment will support content export, business development, and localization.
The signing ceremony was held at the Ministry of Investment residence in Riyadh, the capital of Saudi Arabia. Attendees included Khalid Al-Falih, Minister of the Saudi Ministry of Investment, Anwar Al-Shammari, Senior Legal Advisor of the Ministry, Lee Young, Minister of SMEs and Startups of Korea, and Lee Seung-gyu, Vice President of The Pinkfong Company.
With this collaboration, The Pinkfong Company aims to strengthen its content influence in the Middle East and North Africa (MENA) region. As the Saudi government has expressed its commitment to fostering future industries such as entertainment and advanced technology as part of 'Saudi Vision 2030,' the company will also broaden exchanges with local businesses. A representative of The Pinkfong Company stated, "We will accelerate our efforts to penetrate the local market," adding, "We will showcase a diverse content lineup including Pinkfong and Baby Shark, while contributing to the expansion of the entertainment market."
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Not Jealous of Winning the Lottery"... Entire Village Stunned as 200 Million Won Jackpot of Wild Ginseng Cluster Discovered at Jirisan
- Bull Market End Signal? Securities Firm Warns: "Sell SK hynix 'At This Moment'"
- "How Did an Employee Who Loved Samsung End Up Like This?"... Past Video of Samsung Electronics Union Chairman Resurfaces
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
The Pinkfong Company is highly popular in MENA countries such as Saudi Arabia, the United Arab Emirates, and Egypt. Its YouTube cumulative views and watch time have reached 5 billion and 160 million hours, respectively. The total cumulative downloads of the Pinkfong app have also surpassed 25 million.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
