Concluded a business agreement (MOU) with Cube Entertainment X Naver Cloud

[Reporter Se-yeon Park, Daily Economy Star Today]

Cube Entertainment signed an MOU with Naver Cloud today (22nd) for global IT and game business cooperation.

Cube Entertainment and Naver Cloud expressed their willingness to actively cooperate in entering and expanding the global IT and game business areas based on IP and production capabilities and infrastructure technologies held by the two companies.

Cube Entertainment will plan joint advertising products and support production resources by utilizing IP and human resources, and Naver Cloud will provide various technologies and services of Naver’s cloud platform, including global cloud infrastructure and AI. The service (advertising planning and production support) will be distributed through Naver Cloud’s Marketplace channel.

“We plan to show our IP and content production capabilities through this business agreement with Naver Cloud to pave the way for the global expansion of the K-content production and distribution business,” a Cube Entertainment official said. “At the same time, “We hope our content production capabilities will be one of the pillars of the development of the K-game industry.”

Naver Cloud is aggressively expanding its influence in the game market by releasing a series of services necessary for game development and operation on the cloud, including GamePods, GameChat, and Game Report.

According to data published by the Korea Creative Content Agency, the game industry they entered is an industry that shows continuous growth, with the size of the domestic game market surpassing 17 trillion won last year and continuing to grow rapidly. The K-game industry is also establishing itself as one of the leading players in the K-content craze, with exports also increasing to 7.76 trillion won.

Cube Entertainment is set to launch a new girl group called LIGHTSOME in the first half of this year, with its fourth mini album (G)I-DLE and Pentagon’s 11th mini album gaining huge popularity among fans and expected to increase music sales in the first quarter.

Meanwhile, Cube Entertainment is expected to see a significant increase in its performance in the future as it is carrying out new businesses such as producing and supplying video contents (OTT platforms, etc.) through various IPs and cosmetics businesses through overseas subsidiaries last year.

psyon@mk.co.kr

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