Kakao splits its music business…Established Melon Company in June

Kakao is promoting the division of Melon, a music streaming platform.

Kakao announced on the 12th that it plans to establish a new company by dividing the melon business unit. The new company’s mission has been tentatively decided as Melon Company, and the new company’s representative is Jinsoo Lee, CEO of Kakao Entertainment.

Kakao said, “We are trying to establish a governance system that enables more professional and rapid decision-making and promotes active collaboration and synergy.” We want to establish a competitive business base that can dominate in the market,” he said.