“Keep going even if it’s difficult”… Art sculpture investment market ‘Restarts’

YEOLMAE Company Starts 2nd Contest for Art Sculpture Investment
Seoul Auction Blue Soto No. 2 product is in full swing
“The art market is difficult.” Preparing new products

This article has been translated into English through AI.

Art sculpture investment companies, called the cornerstone of the domestic token securities issuance (STO) market, are restarting their public offering work. Amid sluggish performance due to consecutive subscriptions, attention is focusing on whether the slump in the art sculpture investment market can end.

According to the art sculpture investment industry on the 20th, the YEOLMAE Company will hold a public offering for the second sculpture investment product from this day to the 24th. No. 2 is a large canvas-sized work with a size of 300 by Lee Woo-hwan’s “Dialog.”

The public offering amount of the work is 1.23 billion won, and the public offering price is set at 100,000 won per share. Of the total public offering shares, 11,070 shares, or 90%, are allocated to the general public, and the maximum subscription limit is 300 shares.

Seoul Auction Blue Sotu is also in the midst of preparing to launch its second sculptural investment product. Seoul Auction Blue submitted a securities report to the Financial Supervisory Service on the 10th about “Untitled” by Yoon Hyung-geun, a monochromatic artist, as its second sculptural investment securities.

In April, Seoul Auction Blue signed a memorandum of understanding (MOU) with JB Financial Group Jeonbuk Bank for a joint project of token securities. △ Discovery of a business model that combines finance and art work △ Promotion of token securities business such as development of art investment deposit management service △ ‘Sok Bank’ and ‘Soto’ platform partnership business will be conducted.

However, the atmosphere in the industry is not good as a series of failed art sculpture investment contests. Among them, the industry is seeking a way out by preparing to issue new sculpture investment products instead of art.

According to the fragmented investment industry, the YEOLMAE company is preparing to issue investment contract securities based on raw materials as underlying assets. In addition, the company plans to introduce new securities by securing various assets such as Korean beef and puer tea.

An official from the sculpture investment industry said, “The market atmosphere continues to sink as the subscriptions to art sculpture investment continue and the art market itself becomes difficult. Recently, we are looking into various fields such as smart farms, aviation, and ships to develop new sculpture investment products instead of art.”