SEUM advised Naver Z Corporation (“Naver Z”), operator of the global augmented reality (AR) avatar service ZEPETO, in its KRW 17 billion funding, which included investments from Big Hit Entertainment Co., Ltd., YG Entertainment Inc., and JYP Entertainment Corporation (see relevant news article here).

Originally a part of Naver’s subsidiary Snow Corp., Naver Z became an independent entity in May 2020 and launched ZEPETO studio, a self-creator platform where uses can freely create and sell digital avatars, clothing, and items. In particular, Naver Z has garnered attention in the entertainment industry for achieving exceptional results through its production of unique content such as opening a virtual museum through ZEPETO (see relevant news article here), and holding fan meeting events for popular K-pop idols. TWICE, a representative artist of JYP Entertainment, created 3D avatars of themselves on ZEPETO and released a teaser video that had 1.7 million views within the first week (see relevant news article here). Big Hit Entertainment and YG Entertainment also plan to work closely with Naver Z in leveraging their artists’ IP to create 3D avatars of their artists, as well. 

SEUM, with its vast experience in advising IT companies regarding their financings, reviewed the investment contracts and provided essential advice to ensure a smooth completion of the investment. 

The SEUM team as comprised of partner Hoseok Jung, and associates Egyul Kim.