SEOUL -- KakaoPage, a monetized content platform optimized for mobile devices in South Korea, acquired Neobazar, an Indonesian company engaged in game publishing and webtoon service, to secure a business foothold in Southeast Asia.
KakaoPage was launched by South Korea's web service giant Kakao in 2013 as a digital content marketplace allowing brands and individuals to create and distribute visual, audio and written content such as webtoons and genre fiction. Neobazar is Indonesia's top provider of South Korean contents.
KakaoPage said Tuesday it would aggressively supply core intellectual property rights to create a rich Korean content pool abroad. The acquisition of Neobazar reflects KakaoPage's strategy to expand its presence in Southeast Asia. Financial terms were not given.
KakaoPage has provided webtoons, web novels, movies and dramas through Tencent in China and Piccoma, a manga subscription service in Japan.
"This acquisition is the first step for KakaoPage, which has been making efforts to create a Korean content ecosystem in overseas markets, to launch a global business in earnest," CEO Lee Jin-soo said in a statement, vowing to expand KakaoPage's business into Southeast Asia and lead the globalization of South Korean webtoons.
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