FNC Entertainment‘s new subsidiary FNC Investment have acquired the rights to 372 songs, including songs by Taeyeon, EXO-CBX, and Davichi.
According to FNC Entertainment’s press release, their new subsidiary company, FNC Investment, have wrapped up their first investment project, choosing to secure access to works by renowned artists outside of FNC Entertainment. The investment is worth around ₩15 billion KRW ($13,349,887 USD) and a total of 372 songs’ copyrights from a variety of famous singers will be transferred into FNC Investment’s ownership.
FNC Investment’s acquisition is expected to positively impact the financial situation of the company, generating a consistent profit for the company as some of the songs they have acquired the rights to are popular OST’s from Korea’s biggest K-Dramas, including…
Girls’ Generation’s Taeyeon’s “All About You” (Hotel Del Luna OST)
Davichi’s “Forgetting You” (Moon Lovers: Scarlet Heart Ryeo OST)
10cm‘s “Lean on Me” (Hotel Del Luna OST)
EXO-CBX’s “For You” (Moon Lovers: Scarlet Heart Ryeo OST)
They also acquired the rights to PUNCH‘s single “Goodbye”.
FNC Investment’s CEO Ahn Seok Joon stated the reason why FNC Entertainment decided to create the subsidiary and their goals for the company.
Through this contract, FNC will not only be able to hold the copyrights of our artists, but also by acquiring the copyrights of famous artists outside our agency, we can create a stable source of income every year for the future.
— Ahn Seok Joon