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K Wave Media's Solaire Partners Selected As General Partner To Manage ~$28M Fund Jointly Financed By Korea's IPTV Operators, KT, SK Broadband, And LG Uplus

Benzinga·09/05/2025 11:23:07
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Solaire Partners, a subsidiary of K Wave Media (NASDAQ:KWM) and the venture capital firm known for investing in acclaimed films 'Parasite' and '12.12: The Day', has been selected as the general partner (GP) to manage a KRW 40 billion (~USD $28 million) fund jointly financed by Korea's three major IPTV operators—KT, SK Broadband, and LG Uplus.

The fund formation represents a strategic initiative to revitalize the IPTV VOD (Video on Demand) market, which has faced challenges from the rapid growth of OTT platforms, and to establish a sustainable ecosystem for Korea's video content industry.