The venture capital firm behind ‘Parasite’ and ‘Spring of Seoul’ will manage a joint fund backed by Korea’s three leading IPTV operators, aiming to finance 3–4 major films each year.
NEW YORK and SEOUL, South Korea, Sept. 05, 2025 (GLOBE NEWSWIRE) — 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.
Key Highlights of the Fund
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Strategic Focus: The ‘Solaire IPTV Video Investment Fund’ aims to secure high-quality content optimized for IPTV platforms while accelerating the delivery of the latest releases to viewers.
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Market Context: The IPTV market has experienced a significant revenue decline in paid VOD, particularly in the film genre, due to content supply delays and viewer migration to OTT platforms. IPTV dropped from the second most popular method for movie viewing in 2018 to fourth place in 2023.
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Investment Strategy: Solaire Partners plans to:
- Focus investments on top-performing genres in IPTV paid VOD
- Adjust holdback periods through main investments to enable earlier content distribution
- Diversify content portfolio across dramas, variety shows, and other genres
- Invest 3-4 films annually as the main investor
- Target AI, VFX, and content technology companies for future growth
Proven Track Record
Solaire Partners brings over 13 years of accumulated film industry data for quantitative analysis, combined with qualitative insights from a team with over 100 years of collective content industry experience. The firm’s portfolio includes blockbuster successes such as ‘Parasite’, ‘12.12: The Day’, ‘Exhuma’, and ‘The Roundup: No Way Out’.
Strategic Vision & Growth Opportunities
Following KWM’s recent acquisition of AI-powered digital content company Rabbit Walk, this fund management appointment strengthens the group’s value chain spanning content production, investment, and marketing.
“This milestone reinforces K Wave Media’s commitment to building a vertically integrated entertainment and digital asset ecosystem,” said Ted Kim, CEO of K Wave Media. “Through Solaire Partners, we’re strategically investing in content that resonates with audiences worldwide while enhancing long-term value for our shareholders and ensuring synergy among our existing portfolio of seven exceptional companies.”
“This IPTV fund represents the first step in creating a virtuous cycle where platforms and content producers thrive together while viewers enjoy greater satisfaction,” said a representative from Solaire Partners. “We will leverage our content investment capabilities and extensive network to drive the resurgence of the IPTV market and expand the reach of K-content globally.”
About K Wave Media
K Wave Media (KWM) is a publicly listed entertainment and Bitcoin treasury company dedicated to creating, distributing, and monetizing high-quality content across multiple platforms. Since going public in 2025, KWM has focused on strategic growth initiatives, including investments in production houses, digital platforms, and digital asset treasury management.
About Solaire Partners
Solaire Partners is a leading content-focused venture capital firm and subsidiary of K Wave Media, specializing in film and entertainment investments. Known for its data-driven investment approach and industry expertise, Solaire Partners has established itself as a trusted partner in Korea’s entertainment industry with a track record of backing numerous critically acclaimed and commercially successful productions.
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