KRAFTON invested 3.04 million TRY in Spoon Labs.

Big Investment from KRAFTON to Spoon Labs

KRAFTON Inc. (CEO: CH Kim) announced that it has made a significant investment of 3.04 million TRY (120 billion KRW) in Spoon Labs (CEO: Hyukjae Choi), a global platform specializing in short video (shorts) content. This investment is the largest made by KRAFTON as part of its goal to diversify into non-gaming sectors.

Spoon Labs is known as the developer of Spoon, a voice platform that serves users worldwide. The company has stepped into the short format video platform industry by launching ‘Vigloo’, a dedicated platform hosting series composed of short films. Vigloo is an online video service specializing in drama series filled with short videos. Although it resembles other platforms that allow users to share their own content, Vigloo offers content arrangements tailored to the cultural and social preferences of various countries and provides support in a total of seven languages, including Korean, English, Japanese, Traditional Chinese, Spanish, Thai, and Indonesian.

KRAFTON places great value on Spoon Labs’ robust platform technology and successful global service experience. Factors influencing the investment decision include the growth potential of the drama market created by short videos, opportunities to acquire new intellectual property (IP) sources, and the synergy that can be established with existing businesses. Currently, the short video drama market is experiencing rapid growth in major countries like the US and Japan, particularly in the Chinese market, which is valued at 177.7 billion TRY (7 trillion KRW). KRAFTON anticipates that the Korean content to be offered by Vigloo in the future will contribute to the global spread of Korean culture, known as the “Korean Wave,” which is based on K-drama and K-pop.

KRAFTON CEO CH Kim stated regarding the matter: “Spoon Labs has proven its ability to operate internationally through Spoon in recent years. We look forward to creating entertainment platforms where people around the world can enjoy their time and establishing a strong industry ecosystem in the new short-form drama platform business.”

Spoon Labs CEO Hyukjae Choi expressed his thoughts with the following words: “By expanding our business from audio to video, we are positioning ourselves as a global content platform company. We plan to enter the US and Japanese markets soon and aim to establish a new international standard in the short video drama sector with KRAFTON.”

Meanwhile, Spoon Labs has collaborated with several production companies to publish 60 exclusive contents on the Vigloo platform so far and aims to release a total of 120 contents by the end of the year. The company will start publishing original Japanese content this month and will increase its marketing activities aimed at the Japanese and US markets.

Press Release