KT joins with SoftBank to acquire content for IPTV service
2008/04/04 00:41Korea Telecom (KT) continues their move into the entertainment sector with a partnership with SoftBank Ventures Korea to acquire content for KT's Mega IPTV service:
KT and SoftBank will invest 20 billion won each in the fund, while SoftBank Ventures Korea will be in charge of its daily management. The two firms plan to expand it to 100 billion won this year.
Moon Gyu-hak, president of SoftBank Ventures Korea, said that the fund will be reinvested for the next seven years, and the volume will be enough to secure some 19,000 programs for the Korean company's Mega TV service until 2015.
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