(Seoul=NSP News Agency) hYUNJIN KIM Journalist = Showbox signed a share subscription agreement worth about 140 billion won with Maum Capital Group (MCG).
On 14 April, the film distributor concluded a large scale of appropriately 140 billion worth share subscription agreement via capital increase and partnered with the American company to expand its content business.
This agreement allows MCG to acquire about a 30% Showbox stake and become the second-largest shareholder, followed by Orion holdings.
MCG is an investment company newly established in Silicon Valley in the United States led by Brian Koo (Koo Bonwoong) with the purpose of “Korea to global.”
The agreement is expected to beef up Showbox’s plan to accelerate its business expansion.
In particular, the Korean film distributor plans to secure Korean content's intellectual properties that have high potential, strengthen cooperation with production networks home and abroad, and expand its global content business, including metaverse, non-fungible token (NFT), etc., using MCG’s various overseas networks.
Showbox said, “we are pleased to be partnered with MCG in the Korean content business,” and added, “we will do our best to establish a greater success model on the global market by delivering various types of content, based on the long experience on the content market.”
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