Wavve taps media strategist as CEO to drive streaming shake-up

Wavve CEO Lee Yang-ki / Courtesy of Wavve

Content Wavve Corp., the operator of one of Korea’s leading streaming platforms, named a veteran media and finance strategist as its new CEO, signaling a sharper focus on deal-making as the domestic market undergoes broad restructuring.

The company said Thursday that Lee Yang-ki, most recently the head of an OTT competitiveness enhancement task force at CJ ENM, was appointed CEO following a board meeting Tuesday. His appointment comes at a pivotal moment for Wavve as it navigates a long-delayed merger with rival platform TVING.

Lee, a veteran of media finance, previously served as chief financial officer of TVING before joining Wavve in the same role in 2025. At CJ ENM and TVING, he played a leading role in expanding cooperation between the platforms, including arranging for CJ ENM films and tvN dramas to be supplied to Wavve, breaking years of platform exclusivity.

Under his leadership, the two services introduced bundled subscription packages and ad-supported tiers to compete with Netflix and Coupang Play. He also helped broaden Wavve’s offerings in live sports, securing broadcasting rights for the KLPGA and KPGA golf tours.

“CEO Lee is an expert in media and financial strategy,” the company said in a statement, adding that his experience in forging strategic alliances will be critical as it seeks to strengthen its competitiveness.

For Wavve, the leadership change marks a shift away from a growth-focused strategy toward consolidation and efficiency, as local platforms move to defend their market share against global technology giants.

“By maximizing the synergy between Wavve and TVING, we will do our best to deliver the best possible content experience to users,” Lee said.

This article was published with the assistance of generative AI and edited by The Korea Times.