Domestic paid broadcasting market is largely classified into cable TV, satellite broadcasting and IPTV. Latest starter IPTV began its commercial service in 2009 and reached 10 million subscribers in August 2014 after 6 years of service. It has been growing rapidly by increasing more than 500 thousand subscribers every quarter and has taken its place firmly as one of core domestic paid broadcasting platforms, second only to cable TV. Even with this quantitative growth, 3 major IPTV companies are still running deficit, attracting attention to issue of the vitalization of IPTV business based on qualitative growth. This study draws out revitalizing and hindering factors of Korean IPTV industry through a case study on ‘A’ corporation which is leading domesticIPTV market and exploratory study based on interviews with experts and, by developing influencing factors into Causal Loop Diagram through system dynamics research methodology, draws out core issues in vitalization of domestic IPTV industry and suggests alternatives. Therefore, it is expected that this study will provide more diverse practical implications than preceding studies which drew out one-dimensional issues and alternatives and help vitalize Korean IPTV industry by minimizing negative effects and maximizing positive ones.