BYJ's KEYEAST Joins Forces with China's SOHU
Hi....miss you...long time no see !
I know...no updates, for like...forever...me busy...but here's something about BYJ.
He's not just twiddling his thumbs at home it seems hehehe....
Source : The Korean Herald
Hallyu star Bae’s agency joins forces with China’s SOHU
By Sohn Ji-young
Published : 2014-08-07 20:47
Korean
entertainment firm KEYEAST ― led by hallyu star Bae Yong-joon and home
to high-profile actors including Kim Soo-hyun and Kim Hyun-joong ― has
established a strategic business partnership with Chinese online
services company SOHU.com Inc. to better carry out its activities in the
Chinese market.
“KEYEAST is forming a strategic partnership by
signing a capital transfer agreement with SOHU to speed up its entry
into the Chinese market,” the company said Wednesday.
Fox Video, a
wholly owned subsidiary of SOHU.com, will invest 15 billion won ($14.5
million) in KEYEAST by acquiring 6.4 percent of the Korean firm’s
stocks.
With the transfer, SOHU.com Inc. will become the
second-largest shareholder in the Korean entertainment company after its
founder Bae, whose shareholdings will drop from 31 to 29 percent.
“SOHU.com
Inc. currently carries out activities in China that are well in line
with the needs of KEYEAST. Given the many foreseen opportunities for
substantial cooperation in various fields, we selected SOHU as our
strategic partner,” said KEYEAST.
SOHU.com Inc. is a leading
Chinese online media, search, gaming, community and mobile service
group. It manages the portal site SOHU.com, video service website SOHU
TV, online search engine SOGOU, and game development and service firm
Changyou.
The firm is listed on the U.S. stock exchange NASDAQ and holds an estimated market value of 2.3 trillion won.
SOHU.com
Inc. decided to make its recent investment “in order to more
effectively meet the demand for hallyu content in China.” Under the
strategic partnership, the Chinese firm seeks to “introduce Korean
celebrities and entertainment content to Chinese audiences as KEYEAST’s
sole online partner.”
“The need for an official channel to
promote our company’s artists such as Kim Soo-hyun in China aligned well
with SOHU.com Inc’s business infrastructure and expertise,” the Korean
entertainment agency said.
“Through systematic cooperation with
SOHU.com Inc., equipped with vast experience in and influence over the
Chinese online content market, we expect a synergic effect to take place
in the Korea-China entertainment sector.”
Comments