Seoul Auction announced on the 15th that its affiliate Seoul Auction Blue has signed a strategic business agreement (MOU) with BNK Gyeongnam Bank for a platform partnership based on the art piece fractional investment platform ‘SOTWO’.
This MOU aims to implement differentiated customer services based on Seoul Auction Blue’s capability to provide art content through the SOTWO platform and BNK Gyeongnam Bank’s expertise in financial services. According to the MOU, Seoul Auction Blue will collaborate with BNK Gyeongnam Bank on various art services.
A representative from Seoul Auction Blue stated, “Starting with art content partnerships based on our expertise in the art market, we will seek to popularize the art market and continue service collaborations to provide investors with safe opportunities to invest in artworks.”
A representative from BNK Gyeongnam Bank emphasized, “Through business cooperation, we have joined hands with Seoul Auction Blue, a company specializing in fractional investment of artworks, to discover new business models such as platform partnerships. We will continue to cooperate with various companies to provide diverse services to our customers.”
Meanwhile, Seoul Auction Blue is conducting its STO business centered on its own art piece fractional investment platform SOTWO and provides ‘Art Finance’ services that combine finance and art. Unlike other STO issuance platforms, SOTWO has a structure where subscription is made through multiple securities firms when issuing investment contract securities. Seoul Auction Blue is enhancing its own platform by establishing partnerships with leading domestic securities firms and building an account management institution linkage system.
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