Korea Investment Private Equity will invest 30 billion won in JoongAng Group’s Contentree JoongAng.
According to the Financial Supervisory Service’s electronic disclosure system on the 15th, Korea Investment Private Equity announced that it acquired the 23rd series of non-guaranteed bonds with warrants from Contentree JoongAng on the 11th. The total amount is 30 billion won, with a coupon rate and maturity interest rate set at 4% each.
The conversion price has been set at 8,283 won. If all conversion rights are exercised, Korea Investment Private Equity will secure 15.83% equity in Contentree JoongAng, equivalent to 3,621,876 shares. The conversion request period is from April 11, 2026, to March 11, 2055.
Contentree JoongAng, an intermediate holding company of JoongAng Group, operates subsidiaries such as Megabox JoongAng, SLL JoongAng, and Film Monster, engaging in a comprehensive content business ranging from drama and film production to multiplex theater operation (Megabox) and kids' cafe management. Notable works include “The Outlaws 4” and “The Heirs of a Chaebol.”
Contentree JoongAng plans to use all the funds raised for debt repayment. It is understood that the repayment targets include 20 billion won corporate bonds borrowed from Shinhan Investment Corp. and 10 billion won short-term electronic bonds borrowed from Shinyoung Securities.
Korea Investment Private Equity is said to have made this significant investment in anticipation of a recovery in Contentree JoongAng’s performance starting this year. Specifically, as competition intensifies between platforms and over-the-top (OTT) services, major subsidiaries such as SLL are expected to benefit.
Meanwhile, Contentree JoongAng’s revenue last year was 879.5 billion won, a decrease of 11.4% compared to the previous year. Operating losses amounted to 47.4 billion won, down from 68 billion won the previous year. During the same period, net losses shrank from 167.3 billion won to 91.9 billion won.