Seoul Trade signs MOU with Story… to build STO and RWA exchange

Seoul Trade announced on the 23rd that it has signed a memorandum of understanding (MOU) with global intellectual property (IP) blockchain platform Story to build a token securities (STO) and real-world asset token (RWA) exchange.

Seoul Trade is one of two domestic operators that broker unlisted stocks. Based on its unlisted stock trading platform infrastructure, it is also preparing to launch an STO and RWA exchange. Through this partnership, Seoul Trade said it will be able to advance work on building a platform that connects Korean cultural IP such as K-pop, films, and webtoons to global investors.

Story has tokenized music IP from BTS, BLACKPINK, PSY, and BIGBANG, as well as the character IP from the animation "Baby Shark." It is also in talks to establish an investment fund with Barunson, the producer of the film "Parasite." Story has attracted investments totaling US$136 million from a16z, Samsung Next, Hashed, and others.

Seoul Trade and Story will strengthen cooperation on ▲activating global investment in Korean cultural IP, ▲joint marketing and promotion of Hallyu content, and ▲entry into the STO·RWA exchange business. The two companies also said they will consider investment in Korean content companies and securities distribution business in Singapore and the European Union (EU). They plan to explore using a won-denominated stablecoin for K-content distribution if issued.

Lee Hyun-woo, Chief Product Officer (CPO) of Seoul Trade, said, "Through this cooperation, Seoul Trade will further enhance stability and reliability in the process of building the STO·RWA exchange," and added, "We will grow into a representative STO·RWA exchange for Korea through a differentiated tokenization model centered on IP and content."

Lee Seung-yoon, CEO of Story, said, "Building an STO·RWA exchange together with Seoul Trade is very meaningful," and added, "We are especially very pleased to be able to contribute to the Korean content industry, which is the most popular content worldwide, and Story will actively introduce Korean content and IP to global investors."

Meanwhile, Story will hold a global seminar called the "Origin Summit" today to discuss ways to globally expand K-culture IP.