Krafton Invests $89 Million in Spoon Labs

Krafton Inc., the South Korean gaming giant known for PUBG, has made its largest investment to date in a non-gaming sector, committing KRW 120 billion ($89 million) to Spoon Labs, a company specializing in short-form video content. Spoon Labs operates the audio platform Spoon and recently launched Vigloo, a service focused on K-drama and short films. This investment is motivated by the potential growth of the short-form video drama market, which is particularly lucrative in China, the US, and Japan. Krafton aims to leverage Spoon's technology and experience to enhance its content offerings and secure new intellectual property. CEO CH Kim expressed optimism about establishing a global entertainment ecosystem through this partnership. Spoon Labs plans to expand its offerings and marketing efforts in international markets, including the US and Japan.