Kiwoom Securities Signs MOU with Art Fragment Investment Platform Tessa

[Asia Economy Reporter Hwang Yoon-joo] Kiwoom Securities announced on the 26th that it has signed a comprehensive business agreement (MOU) for mutual cooperation with Tessa, an art piece fractional investment platform.

Tessa is a platform that supports fractional investment in works by blue-chip artists ranked within the global top 200, starting from as little as 1,000 KRW, through its mobile app. As of the end of June 2022, the cumulative number of members exceeded 126,000, and the cumulative value of jointly purchased artworks surpassed 29.8 billion KRW.

Under this business agreement, both companies plan to mutually cooperate to revitalize the fractional investment industry and jointly develop the market by ▲ discovering new business models for innovative financial service applications and joint business cooperation ▲ discovering and executing collaborative projects combining finance and blockchain related to fractional investment.

Kim Hee-jae, Head of Retail Division at Kiwoom Securities, stated, "Following the recent announcement of fractional investment guidelines by financial authorities, the institutionalization of fractional investment services is becoming visible," adding, "We will strive to provide various fractional investment products to investors through cooperation in compliance with related laws and investor protection."