Kakao to close Tapas Entertainment Korean office next month as part of a restructuring

Kakao Entertainmentowned by South Korean tech giant Kakao, will close the Korean branch of US-based storytelling platform Tapas Entertainment next month.

Kakao Entertainment told TechCrunch that it plans to close the Korean office as part of a restructuring effort to focus on the company’s North American and global units. The shutdown will also include layoffs that will affect the Korea-based team.

“Tapas Entertainment is streamlining operations to respond flexibly [and quickly] in the North American market in response to the global economic downturn,” a Kakao Entertainment spokesperson told TechCrunch. “Tapas Korea has been serving the operation and marketing of Tapas Entertainment, which is based in the US.”

The company did not provide the total number of employees at Tapas Entertainment and how many employees at Tapas Korea will be laid off. According to local media, Tapas Korea has about 20 employees.

KaKao Entertainment has three main units: an artist agency (Kakao Entertainment), a storytelling unit (Tapas Entertainment), and a Spotify-like music business (Melon).

tapas entertainment Opera tapasa Los Angeles-based webcomic platform; Radish, a New York-based serialized fiction app; and wuxiaworldan Asian fantasy fiction platform.

Kakao Entertainment will take over functions previously handled by Tapas Korea, a decision made because the larger organization has more experience and capabilities, spokesperson…