SEOUL, March 7 (Reuters) - Kakao Corp and its subsidiary Kakao Entertainment have tendered an offer to purchase up to a 35% stake in K-pop agency SM Entertainment , according to a regulatory filing on Tuesday.

The two companies seek to own half of the stake between each other in a decision that will strengthen the strategic partnership with SM, the regulatory filing said.

The announcement comes after HYBE, another K-pop label, acquired just a further 0.98% in SM through a tender offer last month despite initially seeking a 25% stake. (Reporting by Hyunsu Yim Editing by Chris Reese)