KT held a press conference on January 31 and announced that it raises funds worth 100 billion won for content business development. The news conference was attended by the top management of the company, including KT Media Hub CEO Kim Joo-sung.
The total amount is divided into an investment fund of 60 billion won and a loan fund for joint growth of 40 billion won. The former consists of 30 billion won for video contents, 15 billion for the new media sector covering games, e-learning and e-books, and 15 billion for the music content industry. The fund is managed by KT Media Hub.
Video contents benefitting from the fund are exposed on Olleh TV’s PPVs. Educational games are going to be provided along with KT’s products such as the Kibot and the KT Smart Home Pad. In the meantime, KT and the Industrial Bank of Korea invest 20 billion won each in the loan fund for joint growth.