Kakao Steps into Music Service Market

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Tuesday, August 20th, 2013
SEOUL, KOREA- Kakao, the No. 1 mobile messenger service provider in Korea, is expanding its business toward music service. The company announced on August 19 that it signed a joint business agreement with Neowiz Internet to launch mobile music services.

To this end, the two parties will maximize synergy effects by combining Kakao’s mobile social networks, including KakaoTalk and Kakao Story, with the service know-how and core capabilities of Bugs, a music portal of Neowiz Internet.

To promote the music service, the two parties agreed to cooperate through a broad range of partnership, as well as to create a new music market on the mobile environment.

A Kakao official said, “We expect our cooperation with Neowiz Internet to contribute to creating a new music market. Various genres of music possessed by music portal Bugs will be shared by the users of KakaoTalk and Kakao Story, thereby creating a new place where people can enjoy music.”

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