Online fashion platform Musinsa Co., a familiar name among Gen Zers and millennials in South Korea, is ready to go global. This month, the Korean company is set to launch its Japan-based operations and venture into the European markets.
On Jan. 21, the Korean fashion platform announced a strategic partnership with iDEAL People, a multi-line brand agency with expertise in fashion shows both domestic and international, as well as wholesale distribution for overseas markets.
Musinsa will be enlisting iDEAL People s help to introduce Korean designer brands to the global market. The investment amount has not been disclosed. We re ready to make another jump by expanding abroad. We are committed to bridging Korean brands and overseas markets, said a Musinsa official, explaining that iDEAL People s experience will help facilitate the process.
The $1 billion green bond sale by SK battery America Inc., a US unit of South Korea’s SK Innovation Co., was nine times oversubscribed at $9 billion by
Graphics by Jerry Lee
South Korea’s portal giant Naver Corp. will acquire Wattpad, the world s largest web novel platform based in Toronto, for 653.2 billion won ($593 million) in a move to beef up storytelling content for its entertainment operations. The deal is seen as part of Naver s strategy to secure a leading position in the global content market.
Naver announced on Jan. 20 that it has decided to acquire a 100% stake in Wattpad, which will mark the company s largest-ever investment in an external company.
The deal is expected to position the Korean internet giant as a frontrunner in both the webtoon (digital comics) and the web novel industries. The Korean company s webtoon platform, Naver Webtoon, and Wattpad together will draw in around 160 million monthly active users.
Netflix original series Kingdom was a global hit, driving K-zombie hype across the US and Europe. Korean content providers shares are emerging as some of the
Netflix original drama Kingdom was a global hit, driving K-zombie hype across the US and Europe.
Global streaming giant Netflix Inc. has become a leading platform in South Korea, boasting around 4.1 million paid subscribers and earning over 500 billion won ($453 million) in 2020, up 108% from the previous year, as the company is marking all-time highs for both its number of subscribers and subscription fees.
On Jan. 19, app and retail data provider Wiseapp reported that Korea residents spent 517.3 billion won on Netflix last year, with the December amount reaching a fresh monthly high of 58.7 billion won.
The US-based over-the-top (OTT) service has solidified its position in Korea, just five years after its foray into the country. Netflix rolled out its Korea-based services in January 2016, with Chief Executive Reed Hastings saying that viewers would be able to enjoy movies and TV content everywhere in the country through its platform.