Issue Focus

CJ ENM and SK Square have jointly allocated ₩250 billion to facilitate the merger of streaming platforms Tving and Wavve. This investment, announced on July 27, involves purchasing newly issued convertible bonds from Wavve to support the integration.
The investment marks a pivotal step toward combining the two platforms, with a focus on boosting content competitiveness and synergy. The merger process will advance following corporate approvals and reviews from shareholders, ensuring all regulatory requirements are met.
Han Myung-jin, CEO of SK Square, highlighted the goal of enhancing Tving and Wavve's combined capabilities for future growth, driving forward the Korean OTT industry's evolution. Yoon Sang-hyun, CEO of CJ ENM, emphasized the merger's value in improving customer convenience and enriching content offerings through this strategic collaboration.