Kakao M, MBC sign MOU to expand digital intellectual property overseas

CEO of Kakao M, Kim Sung-soo, left, and MBC CEO Park Sung-jae pose for a photo after signing a memorandum of understanding at the MBC building in Samang-dong, western Seoul, on Tuesday.

Kakao M and MBC signed a memorandum of understanding (MOU), on Tuesday to enhance and expand their digital intellectual property (IP) overseas.

Kakao M hopes to digitally distribute popular MBC drama series overseas as well as produce and market their own digital content that is globally trending.

“This partnership can be called a collaboration of ‘Tentpole IP’ as both companies possess know-how and high-quality databases on creating content, content platforms and marketing,” Park Sung-Jae, CEO of MBC noted. “I believe that the two companies have the ‘best fit’ to work together to enhance our digital IP.”

“When the unrivaled content IP and creativity that MBC has fuses with our capacity for original digital content, we hope to demolish the boundaries of digital platforms and create a synergy effect, enhancing our competitiveness [in the global IP market],” Kim Sung-soo, CEO of Kakao M, added.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]