Korean Entertainment Firm Bought In Part By Softbank; Gets $13 Million

Masayoshi Son has done crazier investments: Softbank has bought a stake in a Korean Wave company (Korean Wave refers to the country’s pop culture becoming popular in rest of Asia, especially Japan and China), along with popular Korean actor Bae Yong-jun.

The company, called Autowin Tech, will now be renamed Key East, and will create broadcast and music content and distribute it in the Asian market. Bae will be in charge of producing competitive Korean Wave content, while Son will seek out new markets such as IPTV, online, to sell it. (Softbank is launching a new online video service called TVBank, about which we wrote here first, and Key East would probably syndicate in to this service.)

Bae and his affiliated companies will be the largest shareholder with 37.5 percent. Key East hopes to start producing content and acquiring a distribution network starting next month with the help of additional investment and partnerships. The company is reportedly in talks with the Korean entertainment agency SM Entertainment.

Related:

Softbank, Yahoo Japan Announce Joint Venture, New Broadband Video Service

Masayoshi Son Plans Global Rollout Of His Video Service TV Bank

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