On July 7, FNC Entertainment revealed, “This equity investment was carried out through the collaboration of FNC Entertainment and SK Planet.”
Through this contract, FNC Entertainment hopes to construct a strategic partnership that will induce a synergy with SK Planet Japan’s platform. This will be done by assembling the know-hows used to support the music and performances of FNC Music Japan’s local artists and FNC Add Culture(063440)’s production and overseas distribution competence used for their dramas and variety program contents.
As a company that led the Korean market with their systemized domestic operations and differentiated system in Japan, FNC ENT plans to solidify their existing business regions and branch out to new regions through this contract.
Moreover, Loyalty Marketing, a company that runs ‘Ponta’, a mileage service with a base of 78,000,000 members in Japan has also joined FNC Music Japan in investing in SK Planet Japan to contribute towards constructing a mutual strategic collaborative model in the future.
On the other hand, SK Planet Japan partnered with a Japanese brand in August 2014 to launch a Gifticon service called ‘Cotcoco’ and start a business in Japan. Moreover, they recently expanded their business region through an O2O (Online to Offline) marketing platform service and more. They plan to use SK Planet’s successful know-hows used to run domestic platform businesses such as Syrup, 11st, OK Cashbag in the Japanese platform business.
Translated by Choi Na Ri