Hanryu Bank, valued at $460 million by KPMG

Made a consulting agreement with KPMG, a global accounting consulting firm, for global business expansion Evaluated three business areas such…

  • Made a consulting agreement with KPMG, a global accounting consulting firm, for global business expansion
  • Evaluated three business areas such as the Korean-wave platform, ERP, and blockchain
  • Aimed at an IPO on Nasdaq in the first half of 2022

SEOUL, South Korea, Sept. 28, 2021 /PRNewswire/ — Hanryu Bank, a global Korean wave platform (FANTOO) company, was recognized for its corporate value of $500 million by KPMG.

Hanryu Bank is preparing to be listed on NASDAQ in the US and has conducted an overall listing and audit process through KPMG for the global expansion strategy. According to a recent Equity Valuation report, the company has been valued at at least $315 million to $460 million.

KPMG is a global consulting and accounting company founded in 1987 through the merger of PMI (Peat Marwick International) and Klynveld Main Goerdeler (KMG).

KPMG, one of the world’s four biggest consulting and accounting firms, currently has members in 146 countries and employs more than 140,000 employees.

In this corporate evaluation, KPMG evaluated the company using various approaches, such as the ‘Income Approach’ that evaluates potential profits through cash flow, the ‘Market Approach’ that uses the Guideline Public Company (GPC) method that evaluates compared to similar business platforms, and the ‘Cost Approach’ which is evaluated using the cost of reproduction or value index of cost.

Hanryu Bank was also evaluated in three areas: Korean wave platform (FNS) business, ERP business, and block chain technology. ‘FNS’ promotes Korean-wave culture, business, and advertising through the ‘FANTOO’ application, a community platform for global fans of the Korean-wave. The ERP business aims at the groupware, ERP, and IB businesses, which are management solutions for small and medium-sized enterprises and venture companies. The blockchain business using ‘Fandom Chain’ mainly targets PG business, fintech, and coin (KDC) business.

In particular, the ‘FANTOO’ app is a social networking platform for 100 million global Korean-wave fans around the world and supports a real-time translation function for all services for convenient communication among them. FANTOO is leading the global Korean-wave with its various original content and events.

The company plans to increase usability and scalability by linking the entertainment business, media, and fintech business by utilizing KDC (KingdomCoin), the main coin of Hanryu Bank’s self-developed FandomChain. KDC is currently listed on global cryptocurrency exchanges, LBank and XT.COM, and is currently pursuing listings on three or four larger exchanges.

A Hanryu Bank official said, «The KPMG corporate value evaluation report is meaningful that we are evaluated the development process of Hanryu Bank’s various 4th industries, such as Korean-wave, AI, blockchain, and metaverse, and recognized our company’s potential performance.» Starting with the official opening of FANTOO on September 30th, we will deliver the value of the Korean-wave to 150 million Korean-wave fans around the world.»

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SOURCE Hanryu Bank