[앵커]
Authorities have determined that the products of ‘Music Cow’, a platform that allows you to earn profits following investing in music copyrights like stocks, are similar to securities.
This is the first case of a sculpture investment that is still unfamiliar to the system, and reporter Jo Tae-hyun tells what it means.
[기자]
‘Roline’ is the representative song of the girl group Brave Girls.
As it became popular late, the price of the ‘copyright fee participation claim’, which can be invested in this song to receive royalties, also skyrocketed.
One share of Rollin, which was around 20,000 won at the beginning of last year, recorded 1.3 million won in 7 months.
At the same time, ‘Music Cow’, a platform that sells claims for participation in copyright fees, also drew attention.
Sculpture investment refers to a method of joint investment by splitting assets that are difficult for individuals to invest alone, such as expensive art or supercars, in the form of equity.
Music Cow has grown into a platform with 1 million cumulative members and close to 400 billion won in transaction amount, but it caused controversy.
There are transactions and dividends like stocks, but complaints regarding ‘quasi-finance’ that have not been officially approved have also been received.
After a five-month review, the financial authorities concluded that the right to participate in copyright fees was an investment contract security.
Accordingly, Music Cow must prepare investor protection measures and reorganize its business structure in accordance with relevant laws and regulations.
[이정환 / 한양대 경제금융대학 교수 : 뮤직카우가 투자를 받아 이 투자를 통해 저작권을 얻고 수익금을 배당하는, 직접적인 소유가 아니라는 점에서 투자계약에 해당해 증권성을 판단했다고 보면 됩니다.]
However, the financial authorities decided to suspend the sanctions procedure considering that it was the first case of applying investment contract securities, so there was little perception that it was illegal, and considering that a significant number of investors had already flown in.
Musiccow said it would quickly come up with all standard conditions, and that until then, it would keep existing deals but stop new music deals.
[정인석 / 뮤직카우 전략사업 본부장 : 유예기간 내에 신속히 모든 기준조건을 완비할 것이며, 서비스 전반에 걸쳐 금융당국의 원칙을 준수하고 이용자 보호를 최우선으로 한 음악 IP(지식재산권) 거래 시장 조성을 위해 최선을 다하겠습니다.]
The decision of the financial authorities is expected to lead to upheaval in the overall piece investment platform market.
This is because other sculpture investment platforms such as artworks, supercars, and Korean beef may also be subject to regulation.
The financial authorities are planning to announce the ‘New Securities Business Guidelines’ soon to protect investors as fragmentation investment is increasing recently.
This is YTN Jo Tae-hyun.
YTN Cho Tae-hyun ([email protected])
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