FIFTY FIFTY's Agency Attract Secures Strategic Investment from YES24

Attract, the agency behind the girl group FIFTY FIFTY, has successfully secured an equity investment from YES24.

On the 14th, Attract announced, "We have successfully secured an equity investment of approximately 5% from YES24, further solidifying our strategic partnership."

Previously, in 2023, Attract had raised funds through the issuance of convertible bonds from domestic listed companies, including Hanse Industrial and YES24, with the company's valuation estimated at around 60 billion KRW. The recent equity investment agreement with YES24 is expected to strengthen their collaboration and serve as a significant stepping stone for Attract's future growth strategies, including an IPO (Initial Public Offering).

The strategic partnership with YES24 was significantly influenced by the achievements and growth potential of their girl group, FIFTY FIFTY.

FIFTY FIFTY has solidified their domestic and international presence by achieving unprecedented mega-hits on the U.S. Billboard charts and winning various awards such as the Rising Star Award and Discovery of the Year Award.

Notably, their third mini-album 'Day & Night,' released last month, recorded initial sales approximately five times higher than their previous work and maintained top positions on domestic and international music charts, garnering significant attention.

Attract's CEO, Jeon Hong-jun, is a seasoned music producer who has managed album production and management for numerous artists, including Sim Soo-bong, Byun Jin-sub, Yoon Mi-rae, Lim Jeong-hee, and Bobby Kim.

Reporter: Choi Ji-ye, Ten Asia, wisdomart@tenasia.co.kr