Chorokbaem Media Raises 110 Billion Won... "NFT, Metaverse New Business, IP Content Investment"

[Asia Economy Reporter Yoo Hyun-seok] Chorokbaem Media has succeeded in attracting a large-scale investment fund amounting to 110 billion KRW. Marking this capital acquisition as a turning point, the company plans to aggressively pursue new businesses centered on NFT and metaverse, while continuing its aggressive investment efforts to secure content IP.

Chorokbaem Media announced on the 10th through a public disclosure that it will raise a total of 110 billion KRW. It plans to raise 80 billion KRW through a third-party allotment paid-in capital increase and 30 billion KRW through convertible bonds. The major companies participating in the capital raising will invest in the form of paid-in capital increase, including ▲the largest shareholder Chorokbaem Company (25 billion KRW), ▲Lotte Homeshopping (registered corporate name Woori Homeshopping, 25 billion KRW), ▲Bithumb Korea (10 billion KRW), ▲Vidente (5 billion KRW), ▲Wemade Tree (5 billion KRW), ▲Bucket Studio (5 billion KRW), and ▲YG Plus (5 billion KRW), totaling seven companies.

The new share issuance price is 2,804 KRW per share, with approximately 28.5 million common shares to be issued. After the capital increase, the largest shareholder Chorokbaem Company’s stake will increase from 29.66% to 29.86%. Lotte Homeshopping will become the second-largest shareholder with a 3.98% stake.

Considering the lineup of companies participating in the third-party allotment paid-in capital increase, this capital raising is more than a simple equity participation; it strongly reflects a strategic partnership with Chorokbaem Media. Based on Chorokbaem Media’s IP capabilities, new business initiatives in NFT, metaverse, and e-commerce are expected to be actively pursued.

A representative of Chorokbaem Media stated, “The largest shareholder Chorokbaem Company also actively participated with 25 billion KRW in this capital increase, raising its stake, which signifies confidence in the company’s growth. Starting from this capital raising, we will accelerate investments to become a comprehensive IP content company and, based on strategic partnerships, pursue new businesses that can create synergy with IP content, securing new revenue structures that existing media companies do not have.”

Chorokbaem Media has over 20 years of experience and capabilities, having produced many representative works such as ‘Jumong,’ ‘All In,’ ‘My Mister,’ and ‘Penthouse.’ If it actively secures IP, it is expected to take a step forward as a ‘comprehensive content company.’ According to the company, through this capital raising, it has succeeded in establishing a multifaceted collaboration system with leading companies to promote ‘new media’ related businesses such as metaverse and NFT, which are emerging as new paradigms.

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