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Naver Pay and Billboard have joined forces to offer fintech-entertainment services to the Korean market. The mobile payment service introduced by Naver Corporation and the American music and entertainment magazine signed a memorandum of understanding (MOU) to provide various original services.
Through their strategic partnership, Billboard and Naver Pay aim to create good fintech and entertainment synergy. On Wednesday, April 17, the latter said it signed the agreement with Billboard and Billboard Korea on Tuesday this week at its Naver1784 building located in the district of Seongnam in Gyeonggi Province.
Terms of the Deal
The partners will collaborate to bolster services related to fintech and entertainment. As per Pulse News, it was agreed that Naver Pay will start various collaborative projects that link its payment solutions with Billboard Korea’s entertainment services, such as broadcasting, live performances, and music.
Naver Pay will also help Billboard Korea to successfully enter the local market. The Korean unit is set to be officially launched in June. Billboard reported that the primary goal of the collaboration is to promote an array of collaborative businesses that will integrate simple payment services with any services that Billboard Korea offers.
Billboard Celebrates Debut of Billboard in South Korea
Billboard is happy with the launch of Billboard’s Korean unit. The company’s president pointed out that this is an excellent opportunity as they recognize the significance and popularity of K-music and K-pop worldwide.
“At Billboard, we recognize the significance of K-pop and K-music as not just musical genres, but as cultural movements that continue to transcend borders and redefine the landscape of the global entertainment industry,” Mike Van, Billboard’s president, said during his speech via press release. “With our dedicated team of journalists and music enthusiasts from both the U.S. and Korea, we are poised to further amplify the beauty of K-music through Billboard’s industry-leading platforms and content.”
He added, “From our industry-leading online platforms to engaging live events, Billboard Korea will serve as a cultural ambassador and the destination for all things K-pop, K-music, and K-culture.”
On the other hand, the chief executive of Billboard Korea, Kim Yuna, also stated via press conference, “This inaugural volume will serve as a platform to showcase K-pop stars not only in Korea but also worldwide.”
Kim further shared that they are collaborating with the content team and editors from Billboard’s HQ to develop different ideas. Lastly, she said they plan to publish monthly digital covers featuring K-pop artists.
Photo by: Billboard Press Release
