Company Behind COEX 'Wave' Secures 100 Billion KRW Investment

IMM Investment Executes Investment Funds Through SPC
Expecting Growth of Global Design Companies

[Asia Economy Reporter Kwangho Lee] District, a digital design specialist company known for COEX ‘Wave’ and Arte Museum, has successfully secured new investment. This is seen as a preparation for full-scale global business expansion.

District announced that it has attracted an investment of approximately 100 billion KRW from Wave One Co., Ltd., a special purpose company (SPC) established by IMM Investment, a leading domestic investment firm.

This investment structure involves phased funding to the U.S. holding company and the Korean business corporation according to the company’s business progress. IMM Investment will acquire an 8.4% stake in District Holdings, District’s U.S. holding company, upon completion of the final investment.

Having grown primarily through domestic business over the past 20 years, District reportedly completed a flip last year by relocating its headquarters overseas and establishing a holding company in the U.S. to accelerate full-scale global expansion. This investment is regarded as providing District with the financial ammunition to actively pursue overseas business expansion centered in the U.S.

An IMM Investment official said, “District has not only globally recognized immersive digital content production capabilities but also secured a channel to independently distribute and monetize corporate content to the public through Arte Museum.” He added, “At this crucial moment when the company is poised to become a global enterprise beyond Korea, we are pleased to support the company’s global expansion through this investment.”

Seongho Lee, CEO of District, stated, “We are honored to attract investment from IMM Investment, which spares no support for corporate growth. This investment is especially meaningful as it lays the foundation for District to rapidly grow into a global design company representing Korea.”

District is a leading domestic digital design specialist company that has continuously won prestigious international design awards, including multiple iF Design Award Gold Prizes. It is focusing on the overseas expansion of Arte Museum, an immersive media art exhibition applying design concepts that transcend nationality, race, and gender.

Meanwhile, IMM Investment is a leading domestic alternative investment company that has discovered promising companies such as Musinsa, Woowa Brothers (Baedal Minjok), Krafton, and Bucketplace (Today’s House) at an early stage. It manages assets worth approximately 7 trillion KRW across venture capital (VC), private equity funds (PEF), and infrastructure investment sectors.