Taiwanese memory chip manufacturer ADATA Technology approved investing up to $40 million in Galaxy Corporation, marking an unusual diversification into Korean entertainment and metaverse ventures.
ADATA, which achieved record profitability in 2024, will acquire a 5.05% stake in the Seoul-based company for NT$1.2 billion ($40 million). The investment comes as Galaxy Corporation prepares for an initial public offering on Korea’s KOSDAQ market with an estimated valuation reaching $720 million.
Galaxy Corporation, founded in 2019, gained prominence as the production company behind Netflix’s hit reality series “Physical: 100” and signed K-pop star G-DRAGON in late 2023 with a package reportedly worth $14.5 million including stock options.
The Korean firm positions itself as an “entertech” company combining artificial intelligence, virtual reality, and intellectual property development. Galaxy Corporation’s CEO has targeted at least $150 million in sales for 2024.
For ADATA, traditionally focused on DRAM modules and solid-state drives, the move represents a significant departure from its core semiconductor business. The company targets NT$40 billion in revenue for 2024, suggesting this entertainment investment represents roughly 3% of annual sales.
The deal reflects broader industry interest in metaverse technologies, though market valuations remain volatile despite projected growth to over $1 trillion by 2032.
