<Anchor> This



is a friendly economic time.

Today (26th) I will be with reporter Han Ji-yeon.

You seem to be making a lot of sculptural investments these days, and you can earn copyrights with a small amount of money.

There are platforms that do this.

It's a platform called 'Music Cow'.

However, I think there was some controversy in defining the characteristics of the products sold at this Music Cow.

But what about the conclusion that this is “securities”? 



<Reporter>



Yes, it is.

Recently, the copyright of singer Lim Chang-jung's cup of soju was sold for 3.5 billion won.



In the case of Music Cow, the actual ownership of the music copyright is not split, but the copyright is purchased from the original songwriter and entrusted to the Copyright Association. will sell it to



It is difficult to express this as a right to claim copyright fees, but investors do not directly own the copyright, so if the company goes bankrupt, they can lose all their investment and rights.



The claim that investors have is a legal requirement for investment contract securities.

So I decided it was a stock.



<Anchor>



You are investing not only in this copyright, but also in things like art.

Then, what happens to the things that are subject to fragmentation investment except for copyrights? 



<Reporter>



Yes, in Korea, starting with Music Cow, various sculpture investment platforms have been created for works of art, buildings, supercars, and luxury goods.



However, depending on whether the actual ownership of these things is divided, it seems that the 'securitity' is different.



Even if it claims to be a fragmented investment platform like Musiccow, it may not be a security if the traded product is sold by splitting the actual ownership.



For example, if investors who have made a piece investment in an apartment or a piece of shopping mall have real ownership, it is not a stock.



The financial authorities decided to publish guidelines related to the piece investment business the day after tomorrow, and it seems that the requirements for establishing securities properties of piece investment products will be included in detail.



<Anchor>



So, if the target of a piece of investment, and that product becomes a security, now there will be more sanctions and regulations from the financial authorities than before, isn't it?

So, from the point of view of those who invest, what do you think we should be careful about?



<Reporter>



First of all, the 'piece investment' business operator only promises to distribute profits by operating assets, and there is no consumer protection device such as a disclosure obligation.



Therefore, it is difficult to provide information about how it is managed and whether there is any risk to the investment.



Investors should carefully examine the liability and professionalism of the business operator.



Also, the recently emerging piece investment platforms often do not directly own the asset.



So, if the bank goes bankrupt or the service goes out, investors will inevitably suffer.



In addition, most of the objects of investment, such as art, antiques, and copyrights, are difficult to value and the trading volume is not large.



In the case of buying and selling piece investment rights, you must be careful as the monitoring system for the secondary market is insufficient and you may be exposed to price manipulation.



<Anchor>



There are a lot of things to be careful about when investing in pieces.

Then, I'll come back to the beginning and end with a talk about Music Cow.

It is regulated that products sold at Music Cow are securities.

So can you keep selling this, like now?

Or do you need to take some time to make some adjustments and need this period of time?



<Reporter>



Yes, according to the original decision, Music Cow has been operating without permission.

Then we had to stop the business, but we were given a grace period of 6 months.



Music Cow has to establish investor protection within these six months.



It is necessary to safely reorganize the business structure and obtain approval from the financial authorities. For example, there is a condition that Music Cow user deposits must be created and kept in an account in the name of an investor at an external financial company.



All you have to do is fulfill the authorities' requirements by October 19th, and the sanctions will be waived.



However, you will not be able to launch any new products during this period.

However, previously issued products can be traded normally.

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