Look, one 24 hour K League cable channel would be awesome.
Also, the future K League cable channel would have hundreds of channel competing against it, correct? Would such a channel get decent views? I suspect not. Why? Even now, fans don't seem to care what's happening in Daegu when their in Incheon watching the home team play Jeju. I suspect a K League channel would need fans who love the whole league and want to know what's going on league wide. There just aren't that many fans out there right now for that.
I've argued the K League needs a DMB station or two. Look, there are only like 12 DMB stations NOW!! If one were K League matches, that would potentially reach a wider audience.
I wouldn't advocate a 24 hour channel just for K league, I just find it amazing that considering what does get on TV that K league games can go without being broad casted by at least someone.
In Australia every A league game is shown on pay tv (admittedly only 5 a week and time zones mean they don't clash time wise) and the audience is only around 60k and the pay TV company is happy with that.
Initially I don't think there would be a lot of interest in other teams but it allows you to watch your team when they are playing away (most fans don't travel). It would grow over time as the players get more exposure and certain event games would probably grab general football fans (Suwon vs Seoul, Park ji Sungs first game in the K league).
However often old media is harder to crack so I am with you on the DMB station idea. Ideally you would do everything (pay, Free to Air, DMB, Radio) but the DMB just strikes me a s areal winner because it feels like football has a younger demographic than baseball. Not that age matters as my mother in law watches TV on her phone when she visits us (niece and nephew hog our TV).