Korea’s Studio Genie has appointed a new CEO to replace Kim Chul Yeon, who ended her official tenure on 30 November.

But the drama producer, part of Korea’s listed telco giant KT, is not ready to name its new content boss, telling business partners only that the incoming CEO “will be formally introduced in the near future”.

Kim would be available until the end of this month to “provide necessary authorisation” on pending agreements or anything that requires official approval, the company said.

KT Corp reported a 1.2% year-on-year drop in its total media business revenue in the third quarter of this year to KRW518.2 billion/US$369.2 million. This includes pay-TV segments.

KT attributed the drop to a decrease in pay per view and advertising revenue despite net subscriber additions.The company has more than 9.4 million IPTV subscribers.

Group consolidated operating profit for the quarter was KRW464.1 billion, a 44.2% year on year increase.

KT Studio Genie is bundled with other content businesses, including Nasmedia, on KT financials and not listed by itself as a major subsidiary. Combined, the content business revenue for Q32024 was KRW 156.2 billion, down 18.3% on Q32023.

Studio Genie, founded in January 2021, is perhaps best-known for drama “Extraordinary Attorney Woo”, which it produced with A Story for ENA in 2022.

Recent shows include “Parole Examiner Lee” and “Brewing Love”.