KOSDAQ-listed SONOKONG(066910) said on the 31st it will launch a project led by its subsidiary Loopop to develop the heritage of a traditional toy company into a new IP platform.
Loopop is a subsidiary in which SONOKONG holds 100% equity. It is dedicated to an IP platform business that discovers new IP with domestic creators and connects it to commercialization, licensing, and domestic and overseas distribution.
SONOKONG is simultaneously pursuing new businesses such as building an AI-based mobility platform, a China EV distribution platform, and robots and AI DEVICE. In contrast, Loopop is not a new business but a project to inherit and develop, in line with the new market environment, the capabilities SONOKONG has accumulated through its toy and character businesses.
SONOKONG plans to go beyond its existing distribution structure centered on infant toys and big-box retailers, and continue its capability to discover IP, commercialize it, and connect with consumers. The company defines this as the "K-IP Discovery Project." The project aims to build a new ecosystem that discovers competitive IP in various fields such as domestic creators, characters, art toys, games, and content, and connects it to the global market.
This year, SONOKONG launched the creator network "SONOKONG Heroes" and opened the Loopop Gallery at its headquarters in Gangnam, Seoul. The Loopop Gallery is not just an exhibition space but serves as an offline test bed to verify consumer response and marketability. Through this, about 40 domestic art toy artists are currently participating in the Loopop project to jointly discover new IP and promote commercialization, and the company plans to expand the fields of participation to various areas such as characters, games, and content.
Chief Executive Cha Il-hyeon of SONOKONG said, "We will continue to support discovery and commercialization so that Korea's outstanding creators and IP can compete confidently in the global market."