SK Telecom is investing in Psy's P-Nation.
According to the Korea Economic Daily, SK Telecom, one of South Korea's major wireless telecommunications companies, invested $5 million and now own 10% of Psy's newly established company. This gives P-Nation a valuation of $50 million.
SK Telecom plans to use its partnership with P-Nation to provide exclusive content for its 5G services.
Currently, P-Nation is the home to Jessi, HyunA, and E'Dawn.