SEOUL, Sept. 17, 2021 — Kakao Entertainment today announced it will merge its music label subsidiaries PlayM Entertainment and Cre.Ker Entertainment.
Board members of both labels approved the merger, which will be concluded within the year. The new company will be jointly headed by PlayM CEO Jang Hyun-jin and Cre.Ker CEO Yoon Young-ro. The name of the new company and details of the merger will be disclosed at a later date.
The merger is part of Kakao Entertainment’s strategy to advance its multi-label system to provide its subsidiary labels with both stability and the independence they require to foster artists of different genres and personalities. It has also expanded diversity in its pool of music talent to include not only global K-pop idol groups but also vocalists, producers, songwriters and more. With this merger, the company expects to generate synergy between the two labels by bringing together their artists and content know-how to expand its global competitive reach in the K-pop industry.
The newly launched music label will take on a more aggressive role in its investment into existing artists to realize their hidden potential as well as unearthing yet-to-be-discovered talent. PlayM is currently home to the popular girl group Apink, singer Huh Gak, boy band Victon, and newcomer girl group Weeekly, while Cre.Ker houses the popular boy band The Boyz.