Jun-beom Jung, Gounee Yang

Global Economic News

HANRYU Bank, a South Korean wave platform company, is starting preliminary examination for listing on the Nasdaq. It is the first time that a South Korean startup is preparing for a Nasdaq listing.

Hanryu Bank announced Monday that it has selected Aegis Capital Corp. as its underwriter of its initial public offering (IPO) and signed a contract after completing an audit for listing on the Nasdaq.

Hanryu Bank is a growing IT startup which is applying various business technologies such as finance, media, artificial intelligence (AI), and blockchain to South Korean wave content.

For its main businesses, it operates a South Korean wave fandom network service “Fantoo” and blockchain main net “Fandomchain.” It also provides an ERP service, which is basis of the investment bank business.

Hanryu Bank is planning to officially submit listing-related documents to the U.S. Securities and Exchange Commission in November.

With the funds raised through this IPO, Hanryu Bank is planning to invest to foster a global South Korean wave platform and develop digital innovation technologies that are expected to grow rapidly, such as AI and blockchain.