Kakao Group Asset Streamlining Slows as KeyEast and SM C&C Sales Fall Through

Kakao Group’s work to streamline entertainment-related assets is not gaining speed. According to Maeil Business Newspaper (mk.co.kr), the planned sales of KeyEast and SM C&C, KOSDAQ-listed subsidiaries of SM Entertainment viewed as key assets for disposal, have fallen through one after another, making it difficult to find new owners. The issue draws attention because the sales were part of Kakao Group’s broader move to reduce assets targeted for reorganization. With deals for the core assets collapsing in succession, the timeline for reorganizing entertainment affiliates appears slower than initially expected. The next focus is whether KeyEast and SM C&C can again find suitable buyers. Source: mk.co.kr.