South Korean private equity fund manager Curious Partners has delivered a term sheet for a 100 billion won investment in liquidity-strapped SLL JoongAng. The proposed structure would provide 50 billion won in new capital and use the remaining 50 billion won to purchase shares held by Praxis Capital Partners, with proceeds directed toward repaying acquisition financing. SLL JoongAng is considering issuing convertible bonds, while Curious Partners is seeking collateral backed by the JoongAng Group owner family and priority recovery over existing creditors. Praxis Capital’s acquisition financing matured at the end of June, triggering an event of default, and the transaction remains at the pre-contract stage pending stakeholder consent.