Galaxy Corporation, a South Korean AI metaverse company, has gained attention for partnering with former BIGBANG singer G-Dragon and is now launching a pre-Initial Public Offering (IPO) investment round worth 100 billion won. The company is targeting a valuation of 1 trillion won.
According to sources in the investment banking industry on May 13, Galaxy is set to begin attracting pre-IPO investment next month. The company focuses on investors from the United States and the Middle East and plans to finalize the investment by the third quarter. The aim is to raise 100 billion won at an enterprise value of 1 trillion won.
Operating across four major business sectors—media, intellectual property (IP), commerce, and technology—Galaxy leverages the convergence of super IP and technology. The company made headlines last year with the high-profile hiring of singer G-Dragon. Founded in 2019, Galaxy has grown through active M&As. In 2022, it acquired three prominent entertainment program production companies responsible for shows such as ‘Street Woman Fighter,’ ‘Physical 100,’ ‘1 Night 2 Days,’ and ‘The Gentlemen’s League.’
Previously, Galaxy and its subsidiary Personas Space raised 70 billion won from investors, including Shinhan Bank, Shinhan Capital, Shinhan Securities, Hanwha Life, Hanwha Insurance, Daishin Securities, T-Investment, Korea Investment Partners, KB Investment, P&I Investment, SK Telecom, Dunamu, and Naver Z. Last year, the company was valued at 500 billion won.
With plans to go public next year, Galaxy appointed Daishin Securities and Shinhan Securities as joint lead managers for its IPO in February. “Global investors are showing a lot of interest, particularly due to the international success of ‘Physical 100′,” said an official from Galaxy.
The company is led by CEO Choi Yong-ho, born in 1989. At 34, Choi was the youngest member of the economic delegation that accompanied President Yoon Suk-yeol on his state visits to Saudi Arabia and Qatar last October. He is also a co-founder of K-Culture, a magazine dedicated to the Korean Wave, in partnership with the Korean Broadcasting Corporation (KBS).
