Kakao acquired Loen, one of the biggest labels and co-publishing companies in South Korea, in January of 2016, and on December 20, it was reported Loen Entertainment would be finally changing its name. According to reports, the purpose of the change is to strengthen the brand as a comprehensive content company and to establish Kakao as the core corporation.
Loen Entertainment head Park Sung Hoon stated, "Loen, a strong player in the existing music market, has been transformed into a comprehensive contents company representing K-Culture for 2 years as part of the Kakao company. We'll progress into other areas for domestic and foreign users to enjoy through 'WeEntertain'."
The official agency name change will occur at the general stockholders meeting in March of 2018.
Stay tuned for updates.