Burbank, California and Seoul, Korea and Hong Kong — The Walt Disney Company (NYSE:DIS) announced the appointment of Luke Kang as senior vice president and managing director of The Walt Disney Company Korea Ltd. All business divisions within Korea will report to Mr. Kang who will be responsible for driving the company’s strategy, coordinating all Disney business efforts in Korea including overseeing Disney global franchises in the market, expanding existing businesses and seeking out new business opportunities.
“Delivering Disney content to international audiences is the cornerstone of our growth strategy,” said Mr. Andy Bird, Chairman, Walt Disney International. “South Korea is one of the most exciting markets for digital content and distribution. With Luke on board as Disney’s managing director of Korea, we’ll be able to create and maximize opportunities for families to enjoy Disney’s creativity and innovative content,” he added.
Since opening in 1992, Disney’s business in Korea has expanded to include media networks (consisting of Disney Channel, Playhouse Disney, Disney Media Distribution and ESPN), consumer products, publishing, interactive media, and home and studio entertainment. Ten years later in 2002, Disney launched its mobile business providing mobile content through the country’s key local telecommunications providers. Disney’s wide range of mobile content includes made-for-mobile series, previews of the latest Disney movies, e-comics, WAP games and casual mobile games.
In May 2010, The Walt Disney Company through its subsidiary Disney Channel International (DCI) and SK Telecom (NYSE:SKM), a leading telecommunications service provider in Korea announced and subsequently finalized a joint venture to launch Korean-language Disney-branded channels in South Korea. Set to launch in Spring 2011, Mr. Kang will join the board of this the first-ever joint venture by The Walt Disney Company to launch Disney Channels anywhere in the world.
“The combination of Disney’s award-winning content together with Korea’s dynamic digital landscape provides an amazing platform for growth,” said Mr. Kang. “This role represents an exciting opportunity to increase Disney’s presence in Korea and connect with Korean consumers in a deeper, richer and more relevant way.”
Prior to joining Disney, Mr. Kang was Chief Operating Officer at Live 365, a leading internet radio company based in Silicon Valley. Before that, he held various senior management roles with MTV Networks in Asia Pacific for several years based out of Singapore and then Korea, including roles as the senior vice president of strategy and business development for Asia Pacific, head of Asia Pacific digital media, as well as the managing director of Korea. He also worked as a management consultant for the Monitor Group for four years covering various industries including consumer goods, media, and retail.
Mr. Kang holds a Master’s degree in management as a Sloan Fellow from the Stanford University Graduate School of Business, and a Bachelor of Arts from the University of Michigan. Starting on March 1st, 2011, he will be based in Seoul and reports directly to Mr. Andy Bird, Chairman, Walt Disney International.
About The Walt Disney Company
The Walt Disney Company (NYSE:DIS), together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media. Disney is a Dow 30 Company, had annual revenues of over US$36 billion in its most recent fiscal year, and a market capitalization of US$81billion as of 15 February 2011. For more information about The Walt Disney Company please visit: http://corporate.disney.go.com/