KT "Considering Establishment of OTT Specialized Corporation"... Season to Become Independent as Separate Subsidiary

Official Letter to Domestic and International Content Producers
Following the Establishment of KT Studio Genie
Synergy Strategy Among Media Platforms

[Asia Economy Reporter Minyoung Cha] KT's online video service (OTT) 'Season' will become an independent subsidiary. This is interpreted as part of efforts to transform into a 'digital platform company (Digico)' centered on KT Studio Genie, which oversees content media strategy.

A KT official said on the 25th, "KT is considering establishing a specialized corporation (Season) dedicated to the mobile media business in response to the changing media environment, including OTT," adding, "We will announce details once the establishment of the specialized corporation is finalized through internal decision-making."

Earlier, KT sent official letters to domestic and international content producers supplying programs to Season, informing them that the plan to spin off Season as an independent corporation is under review. This is to notify that the content procurement method or contracting party may change.

A KT official explained, "This is a standard procedure to inform partners in advance so they are not surprised by changes in contract terms."

Last month, KT announced the establishment of KT Studio Genie in the first half of this year as a specialized corporation to oversee the group's content business. The plan is to seek synergy among KT Group's media platforms and strengthen original content production.

The plan to spin off Season as an independent corporation is also considered to be reviewed in connection with this. The webtoon and web novel specialist company StoryWiz was also spun off from KT in October last year.

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