07:52 AM EDT, 09/05/2025 (MT Newswires) -- K Wave Media ( KWM ) subsidiary Solaire Partners has been chosen as the general partner to manage a 40 billion Korean won ($29 million) fund jointly financed by South Korea's three major internet protocol television, or IPTV, operators KT, SK Broadband, and LG Uplus.

The fund, an initiative to revive the IPTV video-on-demand market, aims to secure high-quality content optimized for IPTV platforms and facilitate the delivery of the latest releases to viewers, K Wave said.

The company's shares were up nearly 9% in recent premarket activity on Friday.

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