K-webtoon IP (intellectual property)-based limited-edition merchandise planning and production, pop-up and commercializing specialist company PEPPERANDSALT Co., Ltd. (PEPPERANDSALT) announced on the 9th that it has signed a strategic business agreement (MOU) with Beijing Menggu Culture Media Co., Ltd. (北京萌谷文化?媒有限公司), an affiliate of China’s leading entertainment platform Maoyan Entertainment (猫眼??), to expand its global IP business.

The agreement is part of a strategic partnership to establish a cooperative framework for global content and IP business connecting Korea and China. The two companies plan to pursue cooperation in various areas, including △IP licensing and commercializing in the Korean and Chinese markets △exchange of the two companies’ IP portfolios △collaboration on IP valuation and business strategy △strategic investment and review of new business opportunities.

As their first joint project, the companies plan to actively promote the entry of the K-SNS character IP “Yumeearth” into the Chinese market. Yumeearth is a fast-growing character IP on social media centered on the characters “Gomdoljjing” and “Ttokkijjing,” and currently has more than about 300,000 global followers. Industry observers expect this project to become a meaningful case of K-SNS character IP entering the Chinese market.

PEPPERANDSALT has recently been strengthening its competitiveness in offline, content-based business by operating various global IP projects such as TINYPING, Numberblocks, and Teletubbies.

Kim Seung-joo, CSO (Chief Strategy Officer) of PEPPERANDSALT, said, “This agreement is significant in that it lays the groundwork for the two companies to cooperate in the global content and IP market over the long term,” and added, “Starting with the first project, Yumeearth’s entry into China, we plan to jointly promote a variety of global IP businesses.”

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