Wavve will invest one trillion won in producing original content by 2025 and allocate an additional sum to set up a production studio to oversee content planning and creation in the first half of this year.
The board of SK Telecom Co., the biggest shareholder of Wavve, approved an additional 100 billion won worth of rights offering for the OTT platform's expansion plans.
According to a Wavve official, they are aiming to elevate Korean media platforms' competitiveness through aggressive investments.
Wavve is also hoping to position itself as a global OTT service provider.
Global streaming giant Netflix has become the leading OTT platform in the country due to its original Korean content, such as Kingdom and Sweet Home. This year, Netflix plans to invest 550 billion won in producing original Korean content.
Domestic telecom giant KT Corp. also plans to spend billions of won over the next three years to create around 100 original series.


TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links
Washington Post Publisher Will Lewis Steps Down After Layoffs 



