Yen Weakens After Intervention Spike as Dollar Stabilizes Amid Global Tensions 
Novartis Q1 2026 Earnings Miss Expectations as Generic Competition Pressures Sales 
Australia Targets Meta, Google, and TikTok With New News Payment Tax Proposal 
US Dollar Weakens as Yen Surges Amid Japan Intervention and Central Bank Moves 
Oil Prices Fall as Iran Proposes New Deal Amid Ongoing U.S. Tensions 
Stock Market Update: Fed Holds Rates Steady as Tech Earnings and Geopolitical Tensions Shape Outlook 
Standard Chartered Q1 Profit Hits Record on Wealth and Investment Banking Growth 
Samsung Reports Record Profit as AI Boom Drives Memory Chip Demand 
Gold Prices Dip Ahead of Fed Decision Amid Rising Middle East Tensions 
Robinhood Q1 Earnings Miss Expectations, Stock Drops After Hours 
AI Stocks Rally in Asia as Oil Surge and Hawkish Central Banks Shake Global Markets 
Gold Prices Slip Amid Iran Tensions and Rising Rate Concerns 
Starbucks Raises 2026 Outlook as Turnaround Strategy Boosts Sales and Earnings 
Amazon Stock Dips Despite Record Earnings as AI Infrastructure Spending Surges 
Wall Street Mixed as Apple Earnings Boost Nasdaq and Oil Prices Ease 
Dollar Gains Slightly as Yen Volatility Continues After Japan Intervention 
Kakao Entertainment Corp. is reportedly discontinuing the Korean division of Tapas Entertainment, a next-generation media and entertainment firm, next month. The entertainment and mass media arm of the Kakao Group said that this move is part of its ongoing restructuring scheme.
According to Yonhap News Agency, Kakao Entertainment already informed employees of Tapas Entertainment that it is planning to close its Korean office. Business insiders said that for staff who will choose to retire, the company is offering some consolation money. The company is also expected to take on the marketing and management divisions of the office.
An official of the company said, "Kakao Entertainment decided to liquidate the Korean branch to improve business efficiency and competitiveness."
Tech Crunch reported that the entertainment firm did not say how many employees are affected by the closure of Tapas Korea, but some local media outlets said that the unit has around 20 staff. Kakao acquired Tapas in 2021 for $510 million and merged it with Radish Media which it also acquired for the same price at that time. With the combined firms, the Korean company formed Tapas Entertainment which is operating its storytelling business, including webtoons.
"Tapas Entertainment is streamlining operations to respond flexibly and quickly in the North American market in response to the global economic downturn," the company's spokesman told TechCrunch. "Tapas Korea has been in the service of operation and marketing of Tapas Entertainment that is headquartered in the U.S."
The spokesman further commented that the ongoing company restructuring is not in any way related to Kakao's acquisition of SM Entertainment. At any rate, the news of Tapas Entertainment's Korean branch closure comes almost two months after Kakao Entertainment raised funds amounting to KRW1.2 trillion or about $966 million earlier this year. It said that this would be used to finance its global expansion and acquisitions.
