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The so-called 'split investment', in which several people share real estate or works of art that is difficult to invest alone, is popular these days.

Now it has expanded to the music copyright market and you can invest in songs you've only listened to, but the related laws and systems are not in place, so it's in a regulatory blind spot.



Correspondent Kim Jung-woo.



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Brave Girls' 'Roline' swept the music market four years after it was released.



Because of this reverse run, music copyright investment received a lot of attention.



A company called 'Music Cow' pre-purchased the copyright for this song, then split the rights and sold it to individuals like stocks.



Investors receive a monthly royalty fee equal to the shares they purchase, which is like a stock dividend.



Shares are also bought and sold, from 25,000 won per share to 1.3 million won at one time, and now traded at 400,000 won.



More than 340 billion won was invested in copyrights of about 3,000 songs owned by the company.



Financial authorities are in trouble.



This is because it is pointed out that trading without public supervision is risky as much as it can cause losses like investing in stocks.



[Hong Ki-hoon/Professor, Hongik University Business School: (Music Cow) They also issue securities.

And they do the competition.

They also do business.

They also do deposits.

It can be a really dangerous act.]



A law firm commissioned by the financial authorities is known to have expressed the opinion that such an investment is like securities.



However, there is also a strong objection that regulation alone cannot foster new industries.



[Kim Kyung-hwan / Attorney: (In developed countries) In the case of small investments, it leaves room for general startups or small and medium-sized enterprises to enter through simple regulations.

Maybe a wise approach to finding a compromise is needed.]



The financial authorities are planning to decide whether to open or close the business after supplementing, but whatever the conclusion is, the split investment method is expected to change.



(Video coverage: Kim Won-bae, video editing: Park Ji-in, VJ: Park Hyeon-woo)