Musicow Selected as 'Pre-Unicorn' by the Ministry of SMEs and Startups... Up to 10 Billion KRW Special Guarantee Support

[Asia Economy Reporter Kim Bo-kyung] Music copyright trading platform Musicow has been selected as a preliminary unicorn company by the Ministry of SMEs and Startups.

According to the Ministry of SMEs and Startups on the 2nd, a total of 20 domestic unlisted companies with high growth potential to become unicorn companies (with a corporate value of over 1 trillion KRW) were selected as special guarantee support targets for preliminary unicorns this year, including Musicow. The selected companies will receive up to 10 billion KRW in special guarantees from the Korea Technology Finance Corporation.

Musicow is a platform that generates profits through the purchase and trading of music copyright royalty shares. In the Ministry of SMEs and Startups' preliminary unicorn selection process, Musicow was highly evaluated for ▲discovering the economic value of music copyrights for the first time in the world and leading IP finance ▲leading a virtuous cycle and innovation in the music ecosystem rather than being a simple investment platform ▲rapid growth and high future growth potential.

A Musicow representative said, "We focused on the stable nature of assets and the social value of ecosystem virtuous circulation," adding, "We will establish good assets well and create a sustainable market."

Last year, Musicow recorded steady growth with a 438% increase in users and a 368% increase in transaction volume compared to the previous year. The average royalty yield for users last year was 8.7%.

This content was produced with the assistance of AI translation services.