Krafton diversifies its business by investing in Spoon Labs

South Korea's gaming giant Krafton Inc. said on Wednesday that it invested in SpoonLabs, a domestic short-form drama platform company

SpoonLabs is the developer behind the global audio platform Spoon. The company expanded its business into the short-form drama platform sector and launched a dedicated platform Vigloo.

Vigloo is an over-the-top (OTT) online video service that specializes in short-form dramas, with each episode lasting around 2 minutes. It supports seven languages: Korean, English, Japanese, Chinese, Spanish, Thai and Indonesian.

SpoonLabs has collaborated with numerous production companies, exclusively releasing 60 pieces of content on Vigloo so far, with plans to introduce around 120 more by the end of the year.

Krafton explained that it decided to make this investment due to SpoonLabs' stable technological capabilities, successful global service experience, the growth potential of the short-form drama market, and the synergy with its existing business through securing original intellectual property.

The latest investment marks the largest non-gaming company investment that Krafton has made.

Write to Seung-Woo Lee at leeswoo@hankyung.com