In July 2025, Brave group integrated with StelLive, South Korea’s largest VTuber production company, establishing “Brave group Korea Inc”. as its new base in South Korea.
What does this business integration mean for both companies? What kind of future will they envision beyond borders, together with their fans?
We interviewed Keito Noguchi, CEO of Brave group, Jeong Dohyeon, CEO of StelLive, and Kyuyon Kim, who bridged the two companies, about their encounter, the deciding factors for the integration, and their future prospects.
Keito Noguchi, CEO of Brave group
Keito Noguchi embarked on his entrepreneurial journey by founding Vapes, Inc. in 2011 while still pursuing his studies at Keio University.
In 2016, he orchestrated the transfer of the company over to Benesse Holdings, Inc. Following this, he has been engaged in the founding of over 50 startups as a business angel, showcasing his commitment to fostering innovation. In 2020, Keito Noguchi stepped into the position of CEO at Brave group Inc. a position he currently holds, leading the company with a clear vision and dedication.
Jeong Dohyeon, CEO of StelLive inc.
Active as a streamer since 2012. Has over 700,000 YouTube subscribers and approximately 800 million total views. Founded StelLive in April 2023.
Kyuyon Kim, Executive Officer, VP of IP Production, Brave group
Joined CyberAgent, Inc. in 2009, then worked as a freelancer before establishing MateReal Inc. in May 2018.
In October 2021, she joined Brave group Inc. through a business merger. In October 2023, she was appointed executive officer and deputy general manager of Corporate Strategy. Appointed as Officer, VP of IP Production in October 2024.
The encounter began with an email.
A shared value of ‘with fans’
── Could you tell us about your first encounter and any memorable events?
Noguchi: It started with an email saying, “I’d like to meet”.
While researching various overseas groups, I learned about StelLive. They replied immediately after I sent the email, and I was able to observe their live performance.
Dohyeon: I was surprised that they actually came all the way to Korea.
Noguchi: I felt like I was barging in. I was also present from the beginning, so I was worried if I had exerted any pressure.
Dohyeon: Not at all. You left a good impression (laughs).
Noguchi: That’s good (laughs). I was shocked by the high quality of the live performance, and they covered many Japanese songs, which showed their respect for Japanese culture. I visited their office the next day and was surprised by how lean their operation was. I was very impressed, thinking, “Such a high-class live performance can be done with such a small number of people. An amazing startup has emerged in the VTuber industry”.
Dohyeon: Thank you. I already knew about Brave group, so I was surprised when I received their contact. I was particularly impressed by the rapid growth of “Vspo!”, and although I was nervous at first, I was honestly happy. I also felt a sense of closeness because their attitude of “envisioning dreams with fans” was similar to our company’s.
Kim: The VTuber market had existed in Korea for a while, but seeing StelLive’s rapid growth, I felt that the VTuber market was truly taking off in Korea. They also empathized with Brave group’s mission, and from our very first conversation, I felt we were a team heading in the same direction.
Short-term profit or long-term future?
── Was there a turning point where the two companies became closer?
Kim: From the first time I visited StelLive, I wanted to do something together. As we talked, I realized there was a need for 3D content (*), so I offered to support them in that area.
Dohyeon: As we proceeded with 3D content production, I was deeply impressed not only by their high-level support but also by their attitude of genuinely respecting our individuality and trying to support and help us.
Noguchi: Through this business alliance, we were able to deepen our understanding of each other and align our perspectives.
We believe that the process of understanding each other is paramount when moving forward with business integration, especially understanding the thoughts and feelings of the management teams. Our conversations with the StelLive team were a valuable time for us.
── As mentioned on Naver Cafe, you received invitations from many companies, so why did you choose Brave group as your partner?
Dohyeon: We received many offers for investment, but most of them sought short-term profits. At the time, StelLive was still in its developmental stages and lacked sufficient technical skills and experience in 3D content creation. In such a situation, Brave group tried to deeply understand our challenges and immature aspects. I was moved by their attitude of considering “what StelLive truly needs”, not just offering investment or technical support.
A future envisioned with fans, talents, and members
── How did StelLive’s members, talents, and fans react to the business integration?
Dohyeon: The members and talents reacted positively with surprise, saying things like, “If the president decided, it’s fine”, and “The company can grow even bigger”.
What we value most is the bond between fans and talents. I think the members and talents empathized that we could maintain this style with Brave group. We always want to create a warm atmosphere where fans feel like, “StelLive’s community looks fun. I want to have fun together in this community”.
Noguchi: Fans, talents, and working members unite to continuously create new things. Brave group has also gone through various hardships and has come to realize its importance. The reactions from the fans to this integration were also very positive, and we received many warm cheers in Korean and English saying, “We’re counting on StelLive”. To meet those expectations, I am once again humbled and determined to provide even better experiences.
Kim: Not only Brave group’s account, but Mr. Noguchi’s X followers have also increased, haven’t they? We’re also seeing more comments from Japanese fans on StelLive’s videos, and I feel that cross-border exchange is emerging.
Creating a new future for Japanese and Korean entertainment together
── Please tell us about your future prospects.
Dohyeon: There are many things I want to challenge with the help of Brave group, such as group-wide concerts that haven’t been realized yet, and offline events where we can directly interact with fans. I also expect that the 3D model production period, which used to take about 1-2 years, can now be significantly shortened. I want to continue doing fun things for a long time so that fans will think, “I’m glad I kept supporting them”.
Kim: Regarding 3D content, I think it’s the part where we can show fans new aspects the fastest, so please look forward to it. I will continue to do my best to act as a hub between StelLive and Brave group to continuously provide new and enjoyable experiences to everyone.
Noguchi: Brave group’s role is to fully support the dreams envisioned by our group companies, including StelLive. Instead of “Brave group wants to do this”, we want to respect StelLive’s wishes as much as possible and provide our assets and know-how. The Korean market is a first for us, but we are looking forward to creating new value together.
Dohyeon: StelLive is still a small company that is growing. We may have many immature aspects, but we would be grateful if you would watch over us with warm eyes. I hope we can walk together for a long time. Once again, thank you for your support from now on!
Noguchi: I feel the same way. This is a new beginning, and I hope we can walk into the future together as long-term partners who respect each other!
(Interviewed in August 2025)
Thank you for reading to the end. We hope we were able to convey that this business integration was not merely an expansion of business scale, but was born from deep respect and trust in each other’s aspirations.
We look forward to creating a future together with our fans, beyond borders.
[Related News]
StelLive, the Major Korean VTuber Agency, Merges with Brave group (2025/07/16)
Brave group Formalizes a Business Partnership Agreement with the Popular Korean VTuber Agency StelLive (2024/05/14)
