The Pinkfong Company signs MOU with Saudi Arabian investment ministry
![From left, Minster of SMEs and Startups Lee Young, The Pinkfong Company’s Executive Vice President Ryan Seungkyu Lee, senior advisor to the Ministry of Investment of Saudi Arabia Anwarr M. Alshammari and Minister of Investment of Saudi Arabia Khalid Al-Falih pose for a photo after signing a memorandum of understanding at the ministry's building in Riyadh. [THE PINKFONG COMPANY]](https://koreajoongangdaily.joins.com/data/photo/2023/03/16/5d176e1c-fa81-4347-97e4-49400e883e93.jpg)
From left, Minster of SMEs and Startups Lee Young, The Pinkfong Company’s Executive Vice President Ryan Seungkyu Lee, senior advisor to the Ministry of Investment of Saudi Arabia Anwarr M. Alshammari and Minister of Investment of Saudi Arabia Khalid Al-Falih pose for a photo after signing a memorandum of understanding at the ministry's building in Riyadh. [THE PINKFONG COMPANY]
The Pinkfong Company behind “Baby Shark” signed a memorandum of understanding (MOU) with the Ministry of Investment, Kingdom of Saudi Arabia (MISA) to strengthen the country’s family-based entertainment industry.
The company will export its content and help develop and localize its intellectual properties (IP) for Saudi Arabian consumers and collaborate with the ministry to participate in various local programs such as conferences, exhibitions and road shows.
The company participated in Saudi Arabia’s largest entrepreneurship conference for start-ups and small and midsized enterprises, which ran between March 9 and 13, to seek a breakthrough in exporting its content overseas and to communicate with other companies to promote the collaboration between Korean and Saudi Arabian companies.
The Pinkfong Company expects to strengthen its content export to foreign markets in the Middle East and North African regions.
“We were able to accelerate our entry into the local market through the partnership with MISA,” said a spokesperson from the company. “We will showcase our content lineup beloved across all generations such as Pinkfong, Baby Shark and Bebefinn and contribute to expanding the entertainment market in Saudi Arabia.”
The Pinkfong Company’s YouTube content accumulated over 70 billion views across 244 countries. Views in North African regions surpassed 5 billion, or 160 million viewing hours. Saudi Arabia ranked No. 1 within the region by accumulating over 1.2 billion views and 45 million hours.
BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]
with the Korea JoongAng Daily
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