April 05, 2018 12:38
Korea's largest mobile game company Netmarble Games will invest W201.4 billion in Big Hit Entertainment, which manages boy band Bangtan Boys, also known as BTS, the firm said on Wednesday (US$1=W1,063).
Netmarble acquires a 25.71 percent stake in Big Hit, becoming the second largest shareholder. Netmarble chairman Bang Jun-hyuk and Big Hit CEO Bang Si-hyuk are cousins.
"Our cooperation with fast-growing Big Hit Entertainment will help us expand our presence in the global market using the influence of K-pop," said a Netmarble spokesman, while Big Hit said, "Thanks to the investment, we will be able to operate our company in a financially stable way."
- Copyright © Chosunilbo & Chosun.com