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The Pinkfong Co. signs MOU with Saudi Arabian investment ministry

14:06 March 16, 2023

SEOUL, March 16 (Yonhap) -- The Pinkfong Co., a Korean animation company, said Thursday it has signed an agreement with the Saudi Arabian government to collaborate in the family entertainment content business in the Middle Eastern nation.

The creator of popular kids song "Baby Shark" and Pinkfong characters signed a memorandum of understanding (MOU) with the Ministry of Investment of Saudi Arabia (MISA) in a ceremony held at the ministry's building in Riyadh.

It marks the first time a South Korean animation company has signed an MOU with MISA.

Under the agreement, MISA will support The Pinkfong Co.'s expansion and business development in Saudi Arabia, while the Korean firm will share its growth strategies and latest trends in family entertainment business with the ministry, the company said.

(From left) South Korea's Minster of SMEs and Startups Lee Young, The Pinkfong Co.'s Executive Vice President Ryan Lee, senior adviser to the Ministry of Investment of Saudi Arabia Anwarr M. Alshammari and Minister of Investment of Saudi Arabia Khalid Al-Falih pose for a photo after signing a memorandum of understanding at the ministry's building in Riyadh, in this photo provided by The Pinkfong Co. on March 16, 2023. (PHOTO NOT FOR SALE) (Yonhap)


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