Attrakt, well-known as FIFTY FIFTY’s agency, reportedly succeeded in attracting overseas investment.
According to Attrakt on August 31st, Attrakt succeeded in attracting 10 billion won from Singaporean global investment company Evergreen Group Holdings. At the end of May, Attrakt received CB investment from domestic listed companies Hansae and Yes24. At that time, the company value was known to be 60 billion won.
Evergreen Group Holdings is a global investment company based in Singapore. David Yong, the young CEO of this investment company, has been expanding his business into the entertainment industry and finance sector since taking office. The form of investment Attrakt received from Evergreen Group Holdings is the issuance of new shares (ordinary shares) through third-party allocation. Attrakt received investment with the same company value as when they received CB investment from Hansae and Yes24.
CEO David Yong said, “We’re truly happy to create an investment relationship with Attrakt. We decided to invest because we highly evaluated CEO Jeon Hong Joon’s entertainment planning, executive ability and the company’s vision.”
Attrakt’s CEO Jeon Hong Joon shared, “I would like to express my gratitude to CEO David Yong for recognizing our company’s future value and willingly investing. Attrakt should now take positive and progressive steps towards the future.”
On August 25th, Evergreen Group Holdings and Attrakt also signed a Memorandum of Understanding (MOU) for investment. Apart from the direct investment in Attrakt Evergreen Group Holdings plans to attract 10 billion won of investment (equity investment and new PF) from Singapore’s leading investment funds in September.
There is one thing about CEO David Yong that captured the attention of netizens. CEO David Yong appeared on the August 7th broadcast of KBS JOY’s “Ask Anything”. He met with MCs Seo Jang Hoon and Lee Soo Geun and confessed, “I want to invest in K-content, but I don’t have any connection. I already met many scammers. Please help me”.
According to an exclusive report by Hankook Ilbo on August 31st, David Yong’s “Ask Anything” episode was also uploaded on YouTube and many people left comments telling him to cooperate with Attrakt’s CEO Jeon Hong Joon. Such comments received many likes and huge support from netizens and K-pop fans. Later, David Yong decided to support CEO Jeon Hong Joon after discussing it with his staff, and CEO Jeon happily accepted the support offer. This eventually led to the success of the investment agreement.
Meanwhile, Attrakt is still dealing with the ongoing contract dispute with the girl group FIFTY FIFTY.
On the 28th, Seoul Central District Court’s Civil Agreement Division 50 (Chief Judge Park Beom Seok) rejected FIFTY FIFTY’s application for an injunction to terminate their exclusive contract with Attrakt. Later, FIFTY FIFTY members decided to submit an appeal against this ruling.
Source: Wikitree
