South Korean media firm K Wave Media Inc. has announced plans to raise $500 million through the sale of ordinary shares to fund a Bitcoin-centric treasury strategy. The company aims to become the "Metaplanet of Korea," referencing Japan's Metaplanet Inc., which saw significant stock gains after adopting a Bitcoin reserve strategy. K Wave Media intends to use the proceeds to purchase Bitcoin, operate Lightning Network nodes, and invest in Bitcoin-native infrastructure. Following the announcement, K Wave Media's stock surged by over 140%, reflecting strong investor interest in its crypto-focused direction.