0001829126-26-005619 | 6-K | XBRL Viewer

Preliminary Purchase Price Allocation (Details) ₩ in Thousands	Dec. 31, 2025 KRW (₩)
Preliminary Purchase Price Allocation
Current assets	₩ 22,669,199
Intangible assets	11,700,000
Deferred tax liability	(2,574,000)
Total liabilities	(19,442,642)
Non-controlling interest	(19,948,742)
Net identifiable assets acquired	2,684,860
Goodwill	12,315,477
Net assets acquired	₩ 15,000,337

Description of Hansol Acquisition (Details Narrative) - KRW (₩)	1 Months Ended	12 Months Ended
	Dec. 19, 2025	Dec. 31, 2025
Description Of Hansol Acquisition
Aggregate shares	5,864,088
Outstanding shares, percentage	42.25%	42.25%
Aggregate purchase price	₩ 15,000,337,104

Label	Element	Value
Short-term financial assets	kwm_ShorttermFinancialInstruments	₩ 21,560,000
Short-term loans, net	kwm_ShorttermLoansNet	3,427,400,000
Other current asset	kwm_OtherCurrentAsset	5,844,544,000
Contract assets	kwm_ContractsAssets	1,065,645,000
Inventories, net	kwm_InventoriesNet	1,612,302,000
Long-term financial instruments	kwm_LongtermFinancialInstruments	310,908,000
Long-term loans, net	kwm_LongtermLoansNet	191,023,000
Long-term other receivables	kwm_LongtermOtherReceivables
Long-term investment securities	kwm_LongtermInvestmentSecurities	3,983,858,000
Current derivative liabilities	kwm_CurrentDerivativeLiabilities	330,417,000
Warrants	kwm_Warrants	528,772,000
Contract liabilities	kwm_ContractLiabilitiess	1,252,195,000
Short-term borrowings	kwm_ShorttermBorrowingss	11,171,899,000
Current portion of long-term borrowings, net	kwm_CurrentPortionOfLongtermBorrowingsNet	2,200,000,000
Convertible notes	kwm_ConvertibleNotes	28,634,020,000
Other current provisions	kwm_OtherCurrentProvisions	769,693,000
Long-term borrowings, excluding current portion, net	kwm_LongtermBorrowingsExcludingCurrentPortionNet	2,611,563,000
Non-current Contract liabilities	kwm_NoncurrentContractsLiabilities	650,000,000
Provision for long-term employee benefits	kwm_ProvisionForLongtermEmployeeBenefits
Other non-current provisions	kwm_OtherNoncurrentProvisions	455,822,000
Non-current lease liabilities	kwm_NoncurrentLeasesLiabilities	6,268,969,000
Deferred tax liabilities	kwm_DeferredIncomeTaxsLiabilities	125,759,000
Accumulated other comprehensive loss	kwm_AccumulatedOtherComprehensiveLoss	(4,447,032,000)
Loss on disposal of Bitcoin	kwm_LossOnDisposalOfBitcoin
ComprehensiveLossNoncontrollingInterest	kwm_ComprehensiveLossNoncontrollingInterest	(2,366,962,000)
Share capital	kwm_ShareCapital	9,077,000
EquityAttributableToOwnersOfParentCompany	kwm_EquityAttributableToOwnersOfParentCompany	(21,314,490,000)
OperatingProfitloss	kwm_OperatingProfitloss	(194,727,860,000)
Owners of the parent company	kwm_OwnersOfParentCompany	₩ (205,742,925,000)
Weighted-average shares outstanding, basic	kwm_WeightedaverageSharesOutstandingBasic	61,575,085
Weighted-average shares outstanding, diluted	kwm_WeightedaverageSharesOutstandingDiluted	61,575,085
Approximate fair value	kwm_ApproximateFairValue	₩ 2,457,000,000
Approximate fair value	kwm_ApproximateFairValue	2,884,000,000
Approximate fair value	kwm_ApproximateFairValue	4,716,000,000
Approximate fair value	kwm_ApproximateFairValue	1,643,000,000
Approximate fair value	kwm_ApproximateFairValue	₩ 11,700,000,000
Estimated useful lives	kwm_EstimatedUsefulLives	9 years 9 months 18 days
Estimated useful lives	kwm_EstimatedUsefulLives	5 years
Estimated useful lives	kwm_EstimatedUsefulLives	7 years
Valuation methodology	kwm_ValuationMethodology	Multi-period excess earnings method
Valuation methodology	kwm_ValuationMethodology	Multi-period excess earnings methos
Valuation methodology	kwm_ValuationMethodology	Relief from royalty method
Valuation methodology	kwm_ValuationMethodology	Relief from royalty method
Amortization expense	kwm_AmortizationExpense	₩ 250,714,000
Amortization expense	kwm_AmortizationExpense	576,800,000
Amortization expense	kwm_AmortizationExpense	673,714,000
Amortization expense	kwm_AmortizationExpense	(0)
Amortization expense	kwm_AmortizationExpense	1,501,228,000
Hansol Acquisition [Member]
Short-term financial assets	kwm_ShorttermFinancialInstruments	5,837,000
Short-term loans, net	kwm_ShorttermLoansNet
Other current asset	kwm_OtherCurrentAsset
Contract assets	kwm_ContractsAssets	3,815,286,000
Inventories, net	kwm_InventoriesNet	901,244,000
Long-term financial instruments	kwm_LongtermFinancialInstruments
Long-term loans, net	kwm_LongtermLoansNet
Long-term other receivables	kwm_LongtermOtherReceivables	595,593,000
Long-term investment securities	kwm_LongtermInvestmentSecurities
Contract liabilities	kwm_ContractLiabilitiess	4,719,111,000
Short-term borrowings	kwm_ShorttermBorrowingss
Current portion of long-term borrowings, net	kwm_CurrentPortionOfLongtermBorrowingsNet
Convertible notes	kwm_ConvertibleNotes
Other current provisions	kwm_OtherCurrentProvisions	432,507,000
Long-term borrowings, excluding current portion, net	kwm_LongtermBorrowingsExcludingCurrentPortionNet
Non-current Contract liabilities	kwm_NoncurrentContractsLiabilities	854,835,000
Provision for long-term employee benefits	kwm_ProvisionForLongtermEmployeeBenefits	176,138,000
Other non-current provisions	kwm_OtherNoncurrentProvisions	173,498,000
Non-current lease liabilities	kwm_NoncurrentLeasesLiabilities	272,137,000
Deferred tax liabilities	kwm_DeferredIncomeTaxsLiabilities
Accumulated other comprehensive loss	kwm_AccumulatedOtherComprehensiveLoss
Loss on disposal of Bitcoin	kwm_LossOnDisposalOfBitcoin
ComprehensiveLossNoncontrollingInterest	kwm_ComprehensiveLossNoncontrollingInterest
Share capital	kwm_ShareCapital	6,939,761,000
EquityAttributableToOwnersOfParentCompany	kwm_EquityAttributableToOwnersOfParentCompany	13,029,544,000
OperatingProfitloss	kwm_OperatingProfitloss	1,098,540,000
Owners of the parent company	kwm_OwnersOfParentCompany	₩ 895,679,000
Weighted-average shares outstanding, basic	kwm_WeightedaverageSharesOutstandingBasic	13,662,476
Weighted-average shares outstanding, diluted	kwm_WeightedaverageSharesOutstandingDiluted	13,662,476
Pro Forma Combined [Member]
Short-term financial assets	kwm_ShorttermFinancialInstruments	₩ 27,397,000
Short-term loans, net	kwm_ShorttermLoansNet	3,427,400,000
Other current asset	kwm_OtherCurrentAsset	5,844,544,000
Contract assets	kwm_ContractsAssets	4,880,931,000
Inventories, net	kwm_InventoriesNet	2,513,546,000
Long-term financial instruments	kwm_LongtermFinancialInstruments	310,908,000
Long-term loans, net	kwm_LongtermLoansNet	191,023,000
Long-term other receivables	kwm_LongtermOtherReceivables	595,593,000
Long-term investment securities	kwm_LongtermInvestmentSecurities	3,983,858,000
Current derivative liabilities	kwm_CurrentDerivativeLiabilities	330,417,000
Warrants	kwm_Warrants	528,772,000
Contract liabilities	kwm_ContractLiabilitiess	5,971,306,000
Short-term borrowings	kwm_ShorttermBorrowingss	16,171,899,000
Current portion of long-term borrowings, net	kwm_CurrentPortionOfLongtermBorrowingsNet	2,200,000,000
Convertible notes	kwm_ConvertibleNotes	15,883,288,000
Other current provisions	kwm_OtherCurrentProvisions	1,202,200,000
Long-term borrowings, excluding current portion, net	kwm_LongtermBorrowingsExcludingCurrentPortionNet	2,611,563,000
Non-current Contract liabilities	kwm_NoncurrentContractsLiabilities	1,504,835,000
Provision for long-term employee benefits	kwm_ProvisionForLongtermEmployeeBenefits	176,138,000
Other non-current provisions	kwm_OtherNoncurrentProvisions	629,320,000
Non-current lease liabilities	kwm_NoncurrentLeasesLiabilities	6,541,106,000
Deferred tax liabilities	kwm_DeferredIncomeTaxsLiabilities	2,699,759,000
Accumulated other comprehensive loss	kwm_AccumulatedOtherComprehensiveLoss	(4,447,032,000)
Loss on disposal of Bitcoin	kwm_LossOnDisposalOfBitcoin	(1,174,040,000)
ComprehensiveLossNoncontrollingInterest	kwm_ComprehensiveLossNoncontrollingInterest	(3,410,248,000)
Share capital	kwm_ShareCapital	10,049,000
EquityAttributableToOwnersOfParentCompany	kwm_EquityAttributableToOwnersOfParentCompany	(16,738,384,000)
OperatingProfitloss	kwm_OperatingProfitloss	(195,175,548,000)
Owners of the parent company	kwm_OwnersOfParentCompany	₩ (207,126,628,000)
Weighted-average shares outstanding, basic	kwm_WeightedaverageSharesOutstandingBasic	68,352,020
Weighted-average shares outstanding, diluted	kwm_WeightedaverageSharesOutstandingDiluted	68,352,020
Transaction Adjustments [Member]
Short-term financial assets	kwm_ShorttermFinancialInstruments
Short-term loans, net	kwm_ShorttermLoansNet
Other current asset	kwm_OtherCurrentAsset
Contract assets	kwm_ContractsAssets
Inventories, net	kwm_InventoriesNet
Long-term financial instruments	kwm_LongtermFinancialInstruments
Long-term loans, net	kwm_LongtermLoansNet
Long-term other receivables	kwm_LongtermOtherReceivables
Long-term investment securities	kwm_LongtermInvestmentSecurities
Current derivative liabilities	kwm_CurrentDerivativeLiabilities
Warrants	kwm_Warrants
Contract liabilities	kwm_ContractLiabilitiess
Short-term borrowings	kwm_ShorttermBorrowingss	5,000,000,000
Current portion of long-term borrowings, net	kwm_CurrentPortionOfLongtermBorrowingsNet
Convertible notes	kwm_ConvertibleNotes	(8,609,400,000)
Other current provisions	kwm_OtherCurrentProvisions
Long-term borrowings, excluding current portion, net	kwm_LongtermBorrowingsExcludingCurrentPortionNet
Non-current Contract liabilities	kwm_NoncurrentContractsLiabilities
Provision for long-term employee benefits	kwm_ProvisionForLongtermEmployeeBenefits
Other non-current provisions	kwm_OtherNoncurrentProvisions
Non-current lease liabilities	kwm_NoncurrentLeasesLiabilities
Deferred tax liabilities	kwm_DeferredIncomeTaxsLiabilities	2,574,000,000
Accumulated other comprehensive loss	kwm_AccumulatedOtherComprehensiveLoss
Loss on disposal of Bitcoin	kwm_LossOnDisposalOfBitcoin	(1,174,040,000)
ComprehensiveLossNoncontrollingInterest	kwm_ComprehensiveLossNoncontrollingInterest	(1,043,286,000)
Share capital	kwm_ShareCapital	(6,939,761,000)
EquityAttributableToOwnersOfParentCompany	kwm_EquityAttributableToOwnersOfParentCompany	(8,453,438,000)
OperatingProfitloss	kwm_OperatingProfitloss	(1,546,228,000)
Owners of the parent company	kwm_OwnersOfParentCompany	₩ (2,279,382,000)

Acquisition Adjustments to Unaudited Pro Forma Condensed Combined Statement of Financial Position (Details Narrative)	1 Months Ended	12 Months Ended
	Dec. 19, 2025	Dec. 31, 2025
Acquisition Adjustments To Unaudited Pro Forma Condensed Combined Statement Of Financial Position
Outstanding shares, percentage	42.25%	42.25%
[custom:InterestRates]		2.396%
Outstanding shares, percentage of ownership		27.80%

Cover	12 Months Ended
Cover	Dec. 31, 2025
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2025
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2025
Current Fiscal Year End Date	--12-31
Entity File Number	001-42648
Entity Registrant Name	K WAVE MEDIA LTD.
Entity Central Index Key	0002000756
Entity Address, Address Line One	PO Box 309, Ugland House
Entity Address, Address Line Two	Grand Cayman
Entity Address, Country	KY
Entity Address, Postal Zip Code	KY1-1104

Description of Hansol Acquisition

12 Months Ended

Dec. 31, 2025

Description Of Hansol Acquisition

Description of Hansol Acquisition

Note 1 – Description of Hansol Acquisition

On December 19, 2025, Playverse Co. Ltd. (“Playverse”), an indirect wholly owned subsidiary of K Wave Media Ltd. (the “Company” or “K Wave”), entered into a Share Purchase Agreement (the “Purchase Agreement”) with Hansol Holdings Co., Ltd., Lee Mi-sung and Cho Hyun-seung (collectively, the “Sellers”), pursuant to which Playverse agreed to purchase from the Sellers and the Sellers agreed to sell to Playverse an aggregate of 5,864,088 shares common stock (the “Purchased Shares”) of Hansol Inticube Co., an AI language and software development company with core capabilities in AI contact center solutions, voice recognition, chatbots, smart solutions and platform technologies (“Hansol”).

The Shares represent approximately 42.25% of the outstanding shares of common stock of Hansol. Pursuant to the Purchase Agreement, the aggregate purchase price for the Shares pursuant to was KRW15,000,337,104. The Purchase Agreement contains customary representations, warranties and covenants by the parties and customary indemnification obligations of the parties.

Acquisition Adjustments to Unaudited Pro Forma Condensed Combined Statement of Financial Position

12 Months Ended

Dec. 31, 2025

Acquisition Adjustments To Unaudited Pro Forma Condensed Combined Statement Of Financial Position

Acquisition Adjustments to Unaudited Pro Forma Condensed Combined Statement of Financial Position

Note 4 – Acquisition Adjustments to Unaudited Pro Forma Condensed Combined Statement of Financial Position

Acquisition Adjustments include the following adjustments, which are based on the Company’s preliminary estimates and assumptions, related to the unaudited pro forma condensed combined statement of financial position as of December 31, 2025.

(a)	Represents the recognition of the fair value of intangible assets in accordance with purchase accounting as described in Note 3.

(b)	Represents the purchase accounting adjustment to goodwill based on the acquisition method.

(c)	Represents the purchase of approximately 42.25% of the shares of Hansol for a value of ₩15.0 billion of which a prepayment of ₩3.0 billion is recorded as other current asset as of December 31, 2025.

(d)	Adjustment eliminates Hansol’s historical shareholders’ equity.

(e)	Reflects ₩45.0 million of transaction costs incurred by the Company that are not included in the historical financial statements of K Wave or Hansol.

(f)	Reflects the bank loan in the amount of ₩5.0 billion entered by K Wave subsequent to December 31, 2025. The loan has a one year term and an interest rate of the Korea 3-month CD rate+2.396%.

(g)	Reflects the sale of 27.8% of Play Company’s ownership in Playverse for ₩2.5 billion.

(h)	Reflects the liquidation of 88 Bitcoin and the partial repayment of the convertible notes issued to Anson Investments Master Funs LP and Anson East Master Fund LP.

(i)	Reflects the conversion of the Anson Investments Master Fund LP and Anson East Master Fund LP for the issuance of 3,857,634 and 966,639 common shares, respectively. Reflects the conversion of the Loeb and Loeb LLP convertible notes and the issuance of 1,952,662 common shares.

Acquisition Adjustments to Unaudited Pro Forma Condensed Combined Statements of Operations (Tables)

12 Months Ended

Dec. 31, 2025

Acquisition Adjustments To Unaudited Pro Forma Condensed Combined Statements Of Operations

Schedule of estimated fair values

Schedule of estimated fair values
		Estimated Fair Value		Estimated Useful Life (years)		Amortization Expense - Year Ended December 31, 2025
Customer relationships	₩		2,457,000	9.8	₩		250,714
Backlog			2,884,000	5			576,800
Technology			4,716,000	7			673,714
Brand			1,643,000	Indefinite			-
Total					₩		1,501,228

Preliminary Purchase Price Allocation (Tables)

12 Months Ended

Dec. 31, 2025

Preliminary Purchase Price Allocation

Schedule of pro forma adjustments

Schedule of pro forma adjustments
Consideration:
Cash	₩	15,000,337

Identifiable assets acquired and liabilities assumed:
Current assets	₩	22,669,199
Non-current assets		10,281,045
Intangible assets		11,700,000
Deferred tax liability		(2,574,000	)
Total liabilities		(19,442,642	)
Non-controlling interest		(19,948,742	)
Net identifiable assets acquired	₩	2,684,860
Goodwill		12,315,477
Net assets acquired	₩	15,000,337

Schedule of Preliminary identifiable intangible assets


		Approximate Fair Value		Estimated Useful Lives	Valuation Methodology
Customer relationships	₩		2,457,000	9.8 years	Multi-period excess earnings method
Backlog			2,884,000	5 years	Multi-period excess earnings methos
Technology			4,716,000	7 years	Relief from royalty method
Brand			1,643,000	Indefinite	Relief from royalty method
Total intangible assets	₩		11,700,000

Preliminary Purchase Price Allocation

12 Months Ended

Dec. 31, 2025

Preliminary Purchase Price Allocation

Preliminary Purchase Price Allocation

Note 3 – Preliminary Purchase Price Allocation

Preliminary Purchase Consideration

The estimated fair value of the consideration transferred is ₩15.0 billion.

Preliminary Estimates of Fair Value

The following table summarizes the tangible and identifiable intangible assets acquired, and liabilities assumed used to prepare pro forma adjustments in the unaudited pro forma condensed combined balance sheet and statements of operations (in thousands).

Schedule of pro forma adjustments
Consideration:
Cash	₩	15,000,337

Identifiable assets acquired and liabilities assumed:
Current assets	₩	22,669,199
Non-current assets		10,281,045
Intangible assets		11,700,000
Deferred tax liability		(2,574,000	)
Total liabilities		(19,442,642	)
Non-controlling interest		(19,948,742	)
Net identifiable assets acquired	₩	2,684,860
Goodwill		12,315,477
Net assets acquired	₩	15,000,337

The final estimates of fair value will be determined when the Company has completed the detailed valuations and necessary calculations. The final allocation could differ materially from the preliminary calculation used in the pro forma adjustments. The final estimates of fair value may include (i) changes in allocations to intangible assets including goodwill, (ii) other changes to assets and liabilities, and (iii) changes to the assessment of tax positions and tax rates.

Intangible Assets

Preliminary identifiable intangible assets in the unaudited pro forma condensed combined financial information consist of the following (in thousands):


		Approximate Fair Value		Estimated Useful Lives	Valuation Methodology
Customer relationships	₩		2,457,000	9.8 years	Multi-period excess earnings method
Backlog			2,884,000	5 years	Multi-period excess earnings methos
Technology			4,716,000	7 years	Relief from royalty method
Brand			1,643,000	Indefinite	Relief from royalty method
Total intangible assets	₩		11,700,000

The amortization related to the identifiable intangible assets is reflected as an Acquisition Adjustment in the unaudited pro forma condensed combined statements of operations based on the estimated useful lives above as further described in Note 5. The fair values of the identifiable intangible assets are preliminary and are based on Management’s estimates as of the Closing Date. The Company applied judgement in estimating the fair value of these intangibles which involved the use of significant assumptions with respect to revenue forecasts, revenue growth, attrition rates, royalty rates, discount rates, and economic lives.

Acquisition Adjustments to Unaudited Pro Forma Condensed Combined Statements of Operations

12 Months Ended

Dec. 31, 2025

Acquisition Adjustments To Unaudited Pro Forma Condensed Combined Statements Of Operations

Acquisition Adjustments to Unaudited Pro Forma Condensed Combined Statements of Operations

Note 5 – Acquisition Adjustments to Unaudited Pro Forma Condensed Combined Statements of Operations

	(a)	Reflects an adjustment to reflect ₩45.0 million of transaction costs incurred by K Wave that are not included in the historical financial statements of K Wave and Hansol.

	(b)	The following table summarizes the estimated fair values of Hansol’s identifiable intangible assets and their estimated useful lives including the amortization for the periods presented calculated on a straight-line basis (in thousands).

Schedule of estimated fair values
		Estimated Fair Value		Estimated Useful Life (years)		Amortization Expense - Year Ended December 31, 2025
Customer relationships	₩		2,457,000	9.8	₩		250,714
Backlog			2,884,000	5			576,800
Technology			4,716,000	7			673,714
Brand			1,643,000	Indefinite			-
Total					₩		1,501,228

(c)

Reflects the amortization expense allocated to the non-controlling interest.

(d)

Reflects the pro forma tax expense on the amortization of the intangible assets based on the 22% corporate income tax rate.

	(e)	Reflects the interest expense recognized on the bank loan as described in (F) above, giving effect to the business combination as if it had occurred on January 1, 2025.

	(c)	Reflects the loss on the disposal of Bitcoin.