CJ ENM has created their promised fund.
A fund to support the music industry was one of the promises that CJ ENM announced during their apology for the 'Produce 101' series controversy. They will be working with KC Ventures for a fund named 'KC Vivace Investment Union'. CJ ENM will be contributing 25 billion KRW (approximately 21.6 million USD) and KC Ventures will be contributing 300 million KRW (approximately 259,000 USD). The fund will last for 7 years, and will be independent from CJ ENM.
The fund will be used to help artists who do not have much recognition but have high potential, as well as creators in their early stages.