[Alpha Biz= Paul Lee] Krafton, the South Korean gaming company, plans to invest KRW 100 billion (approximately $75 million) in The Black Label, the entertainment company representing the idol group All Day Project. The label is known for producing “Golden,” the theme song for Netflix’s popular animation K-Pop Demon Hunters.
According to investment banking sources on Jan. 12, Krafton is joining The Black Label’s Series B funding round. Other investors, including Saehan Venture Capital, are expected to participate. The Black Label is valued at around KRW 900 billion, and with Krafton’s investment, it could surpass KRW 1 trillion, potentially achieving unicorn status.
Founded in 2016 by Teddy, a former member of the idol group One Time, The Black Label gained prominence as a subsidiary under YG Entertainment. Teddy, a former YG producer, contributed to hit songs for artists such as Big Bang and Blackpink. The label later attracted external investment, diluting YG’s stake to expand its independent operations.
The label currently represents top-tier talent including singers Taeyang and Rosé, as well as actor Park Bo-gum. The investment reflects Krafton’s strategy to diversify into music and entertainment content, leveraging synergies with its global IP portfolio.
알파경제 Paul Lee 특파원(hoondork1977@alphabiz.co.kr)
