[November 7, 2023 Seoul] The K-content investment platform 'Funderful' announced its intention to sign a Memorandum of Understanding (MOU) with IX Swap to enhance accessibility to K-content investments and boost the STO market.
Through collaborative efforts with IX Swap, Funderful aims to globally promote competitive K-content to investors. Leveraging its experience in attracting investments for numerous K-content projects such as 'Crime City 3,' 'Concrete Utopia,' and 'Hansan: Emergence of the Dragon,' Funderful plans to engage in overseas retail and institutional investments, injecting vitality into the sluggish domestic content production market.
Despite the worldwide popularity of K-content, the content production ecosystem faces challenges. The absence of intellectual property (IP) and collateral makes it difficult to secure production funds within the existing financial system, and a limited investor base hampers the enhancement of fund circulation flexibility. Funderful believes that attracting overseas investments for competitive K-content production can address the issue of financial imbalance.
Yoon Sung-wook, CEO of Funderful, expressed, "Despite the significant global attention and love for the K-content market, it paradoxically struggles with fundraising difficulties." He further stated, "We are committed to infusing new vitality into the K-content production ecosystem and supporting the continued development of the Korean content industry."