Global content specialist Corpus Korea announced on the 21st that it will issue convertible bonds (CB) worth 26 billion KRW.
The purpose of this CB issuance is to promote new businesses that enhance the utilization of existing content and to advance new projects in the digital new media sector. It is also intended for the repayment of previously issued CBs.
Regarding the issuance terms, the coupon rate and maturity interest rate are both 0%, and the subscription period is from May 22, 2025, to April 22, 2028. The conversion price is 1,576 KRW, and the payment date is the 22nd of this month.
Although the current environment for drama production and distribution businesses is challenging, Corpus Korea has continued to grow through a proper balance of production and distribution, as well as localization of K-content overseas. The company stated that the new business initiatives funded by this capital raise are efforts to grow in line with the rapidly changing market.
A company representative emphasized, “We believe that improving the utilization of our existing catalog will enable profitability enhancement based on current resources. Beyond applying existing business models, we are also considering new business ventures with high potential in the digital new media field, which we expect will diversify and stabilize our business portfolio.”
They added, “As the importance of IP development is emerging globally, we are continuously making efforts to develop original IPs such as webtoons, web novels, and audiobooks, quietly expanding our library through ongoing launches.”
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