Radish, a US-based mobile fiction platform, was co-founded by CEO Seung Yoon Lee in 2016 South Korea's mobile giant Kakao Corp. is in negotiations to buy management rights of the US-based mobile fiction startup Radish Fiction for around 400 billion won ($354 million), amid intense competition for storytelling content among internet platforms, streaming service providers and even telecom giants. Kakao Entertainment, a platform for web novels and comics, has been at the negotiation table with Radish on behalf of its parent group, according to investment banking sources on Apr. 4. The Kakao unit had already secured a 12% stake in Radish after participating in the latter's 76 billion won funding in July 2020. In February this year, it further increased its ownership by acquiring an additional stake from other institutional investors.