Wavve Signs MOU with Ace Story, Producer of 'Kingdom', for Content Development and Investment

Lee Taehyun, CEO of Content Wave (left), and Lee Sangbaek, CEO of AStory, are posing for a commemorative photo after signing a business agreement.
[Photo by Wave]

[Asia Economy Reporter Kim Heung-soon] Online video service (OTT) Wave and 'Kingdom' series producer AStory are collaborating to strengthen the K-OTT content ecosystem.

Wave announced on the 15th that it signed a business agreement with AStory for joint investment in fostering and revitalizing OTT content. AStory is a drama content production company that has produced numerous works including the Netflix original drama series Kingdom, Signal, and 100 Days My Prince.

Through this agreement, the two companies will jointly execute content planning, development, and investment, and work together to discover new business models based on transparent fund management and distribution of revenue. They also plan to explore cooperation in various areas in the future, including the global sales of Hallyu content, which has recently surged in popularity worldwide.

Lee Tae-hyun, CEO of Content Wave, said, "This agreement will be an important foundation for strengthening the content ecosystem," and added, "Wave will continue efforts to create a domestic media collaboration structure to enhance the competitiveness of K-OTT content."

Lee Sang-baek, CEO of AStory, expressed hope, saying, "We hope that the projects produced through this collaboration will contribute to the continuous development of global Hallyu video content and the cultivation of excellent domestic production talent that forms its foundation."

This content was produced with the assistance of AI translation services.