FSN Acquires Medipron... "Expanding New Tech Business"

FSN, a KOSDAQ-listed company, announced on the 18th that it will actively expand its new tech businesses, including bio healthcare platforms, IP content, and security token offerings (STO), through the acquisition of Medipron.

On the 16th of last month, FSN disclosed that it secured a total stake of 49.49%, becoming the largest shareholder of Medipron by participating in a paid-in capital increase worth approximately 42 billion KRW. Going forward, Medipron will serve as a core affiliate of FSN, playing a key role in its new business ventures. At the regular shareholders' meeting on the 28th of this month, the company name will also be changed to Hyper Corporation.

FSN plans to expand its new tech businesses by integrating its own technology development and operational capabilities with Medipron’s infrastructure. Based on Medipron’s technologies and patents for Alzheimer’s dementia treatments, non-narcotic analgesics, and early dementia diagnostic kits, the company aims to develop a healthcare platform business that addresses the health management needs of the senior demographic.

Medipron will continue to expand its business capabilities across the new tech sector beyond just healthcare platforms. FSN’s business expertise is expected to be a significant asset in this process. FSN has already successfully established its Web 3.0 business through its subsidiary Finger Labs. It is developing a new form of content distribution business based on competitive IP and technologies such as artificial intelligence (AI) and blockchain. Blockchain technology can solve issues in the content market, including ticket scalping. While major online video streaming services (OTT) face practical difficulties in distributing subculture content, FSN is pioneering new niche markets by handling such content distribution.

Additionally, FSN plans to expand its IP content business beyond simple content distribution to include creator platforms and STOs. It is setting up systems that allow for the production and uploading of original content, encouraging the creation of diverse genres. In the long term, the strategy is to evolve into an STO model where users can participate in funding for content creation and discovery.

Lee Sang-seok, CEO of FSN, stated, "Medipron will change its name to Hyper Corporation and take on a central role in our new tech business. Through the synergy between Hyper Corporation and our existing tech subsidiaries, we will lead new tech businesses spanning healthcare platforms, IP content, and STO."