April 20, 2024

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[THE INVESTOR] Korean entertainment agency YG Entertainment announced on Oct. 16 that its subsidiary YG Plus has set up a branch in Singapore.

The firm aims to expand its presence in Southeast Asia with its new base in Singapore by forming partnerships with local firms in diverse business sectors including marketing, cosmetics, food and entertainment.

Besides the new branch, YG Plus has also decided to invest around US$2 million -- through its investment arm the company YG Investment -- in Singapore-based Gushcloud International which has operations in many countries including Malaysia, Indonesia and Thailand 

“With this new investment in Gushcloud, we want to leverage the company’s physical presence in the nine offices they have,” said Charlie Cho, Head of YG Plus Singapore in a statement.

YG Entertainment was established in 1996 and became one of the top entertainment agencies by successfully managing popular K-pop artists including BIGBANG and Black Pink. The entertainment firm in 2014 acquired advertising agency Phoenix Holdings from Korean conglomerate Bokwang Group and started diversifying its business to fields such as cosmetics and food and beverages.

By Song Seung-hyun (ssh@heraldcorp.com)