Sejong Telecom to Launch Public Offering for Real Estate Fractional Investment Platform Vbrick on the 25th

[Asia Economy Reporter Lim Hye-seon] The Sejong Telecom consortium announced on the 25th that the real estate easy investment app ‘BBRIC,’ which allows small-scale investments, has opened subscription offerings for its first listed building, ‘Choryang MDM Tower.’

The offering will proceed for three days until the 27th. The first offering building is Choryang MDM Tower, located in Choryang-dong, Dong-gu, Busan Metropolitan City. It has a total floor area of 14,582㎡, spanning three basement floors and 14 above-ground floors. It is situated a three-minute walk from Busan Station, where KTX and SRT trains operate, and is also considered a direct beneficiary of the North Port redevelopment project aimed at attracting the ‘2030 Busan World Expo.’

BBRIC is a demonstration project by the Ministry of SMEs and Startups conducted in the Busan Blockchain Regulatory Free Zone. Amid rising concerns about the securities nature of fractional investment products, it is a government-led regulatory free zone project that prioritizes investor protection as its first principle.

BBRIC is characterized by tokenizing buildings to create and sell revenue securities, returning building operation profits to investors. Through the BBRIC app, investors can also sell or make additional investments.

The total offering amount is approximately 17 billion KRW, issuing a total of 17 million bricks in the form of an investment trust-type real estate fund (collective investment securities, D-REF). The price per brick is 1,000 KRW, with a minimum investment of 10 bricks, that is, 10,000 KRW.

Verification of real estate products and fund formation were handled by Aegis Asset Management, DS Networks Asset Management, and alternative investment experts from the consortium. Investor deposits are kept separate from company assets and stored in trust institution accounts.

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