Shinhan Securities and Musicow, 400billion-won music IP fund formed
Shinhan Securities and Musicow Invest signed a memorandum of understanding in 7 month on 8 day and agreed to establish a music IP fund worth 400 billion won. The acquired music rights will be issued as fractional investment products and 1will be distributed through the over-the-counter exchange for fractional investments scheduled to open in 4 quarter.
Shinhan Securities 7 month 8 day signed a memorandum of understanding with Musicow Invest for the acquisition of music intellectual property rights (IP) and the issuance of fractional investment products. Under the agreement, the companies agreed to establish a music IP fund worth 400 billion won, 1th.
Shinhan Securities will participate as the general partner (GP) managing the project fund. Musicow Invest will be responsible for music valuation and sourcing high-quality IP.
The music rights secured through the large-scale music IP acquisition project jointly pursued by the two companies are scheduled to be issued as fractional investment products through Musicow Invest. The companies said the issued fractional investment products will be distributed through the over-the-counter exchange for fractional investments.
The key upcoming milestones are completing the purchase of music IP during the second half of the year and 4the opening of the quarterly over-the-counter exchange. The two schedules are implementation plans specified in this MOU document.
The background to the signing of the MOU included the institutionalization of the security token offering (STO) system and preparations for the launch of an over-the-counter exchange for fractional investments. Shinhan Securities and Musicow Invest agreed to cooperate with the aim of expanding supply in the issuance market and invigorating distribution.
The two companies said they would continue coordinating detailed procedures and schedules for joint investment and product issuance. Additional announcements are expected regarding detailed operating plans and the list of acquisition targets.