For resource-rich countries such as Gulf oil and natural gas producers, sovereign wealth funds have emerged as promising tools to save for future generations, mitigate the effects of outsized economic shocks, and/or be deployed as reserve investment and strategic development funds to spend on human, natural, social, and physical capital.
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SEOUL South Korea’s Kakao Entertainment Corp said on Tuesday it was acquiring U.S.-based online comic app Tapas and serialized fiction app Radish for $510 million and $440 million, respectively.
The purchase will make Kakao, the online comic, talent agency and movie-making unit of South Korean tech giant Kakao Corp, the latest South Korean entertainment firm to expand in North America as Korean entertainment’s global reach widens.
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“We are planning to engage the North American market in earnest through the intellectual property (IP) business” through the acquisitions, Kakao Entertainment Chief Executive Officer Jinsoo Lee told Reuters.
South Korea s Kakao to buy two U S storytelling apps for $950 million reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.