Kakao Entertainment (Kakao) is set to appoint two new non-executive directors. A new appointment from Tencent, a Chinese information technology (IT) corporation that has maintained a friendly relationship with Kakao Entertainment, will also join the board.
According to Kakao Entertainment on the 18th, the company will hold an extraordinary general meeting on the morning of the 23rd to address the agenda regarding the appointment of new directors. According to the company, Chao Yang Sunny, the executive director of Tencent, is also set to join the Kakao Entertainment board.
Tencent personnel have been active on the Kakao Entertainment board since 2015. Previously, Piao Yanli, the vice president of Tencent Games, has served as a director since late November 2022. Before Yanli, Oh Kyung-ran served as a director at Tencent Korea.
Kakao Entertainment launched its webtoon services, Kakao Page and Daum Webtoon, featuring popular works in the Chinese market through a direct contract with Tencent's specialized comic site, Tencent Dongman, in early 2017. In September 2021, the company also introduced a joint webtoon service (Podo Manhwa) in China in collaboration with Tencent.