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Recently, the so-called 'sculpture investment', in which several people invest in real estate, music copyrights, and even calves, has become popular.
Today (20th), the financial authorities saw this as an investment like stocks and announced for the first time that they would regulate it in the future.
This is reporter Kim Jung-woo's report.
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The sculpture investment company that the financial authorities made the first judgment on is Music Cow.
Music Cow bought the copyrights for popular songs, then split the rights to receive royalties from them and sold them to individuals.
However, since investors do not directly own the copyright, they have been criticized for losing their investment and rights if the company goes bankrupt.
The Financial Services Commission, which has been examining this issue for three months, has come to the conclusion that such a piece of investment is 'securities'.
He said that the method of receiving money from various investors and then distributing the profits is the same as trading stocks, and we will make them comply with the relevant regulations.
According to this decision, Music Cow has been operating without a license until now, but the FSC gave a six-month improvement period instead of closing the door.
In the meantime, it means entrusting your investment funds to an external financial institution and preparing protection measures such as compensation for damages.
Other sculptural investors will be subject to the same regulations in the future.
The sculpture investment craze is blowing to the extent that expensive art, watches, and even ownership of calves are being traded. Now, companies make and sell securities on their own, and there is no monitoring as they directly manage the trading between investors.
[Sewoon Hwang/Senior Research Fellow, Capital Market Research Institute: Even though we should have thought through and reviewed in advance to prepare such a device and infrastructure that can protect investors' wealth, it was not possible because...
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The FSC plans to publish guidelines to be followed by fragment investment companies as early as next week, and begin full-fledged institutional reform.
(Video coverage: Kim Seong-il, Video editing: Kim Jong-mi)