SEUM advised DN Korea Co., Ltd. (“DN Korea”), operator of the real estate brokerage platform “Dongnae”, in its KRW 4.5 billion investment round. Garnering attention as the first investment in Korea by MetaProp, a VC firm known for its global investments in the proptech industry, this round also included investments from other VC firms that included Flybridge which is known for its investments in community-based startups, and Goodwater Capital which is known for its investments in Facebook and other unicorn companies.

DN Korea was co-founded by Matthew Shampine, the former Managing Director of WeWork APAC, and his colleague at WeWork, Insong Kim, the COO. DN Korea operates Dongnae, a platform that is quickly gaining popularity due to its ability to connect users quickly and accurately with their desired home through a personalized recommendation service based on user preferences. It also provides non-contact services such as video proxy tours and real-time online open houses.

Based on its experience in advising on many investments in proptech and platform businesses, and its activities as the official legal support group of the Korea Proptech Forum, SEUM advised DN Korea to ensure a smooth investment process. In particular, this investment round was a cross-border transaction that included many foreign investors, and SEUM drafted and negotiated the English transaction documents and managed the foreign exchange reports for all foreign investors. 

The SEUM team was comprised of partner Hoseok Jung and Daniel Chong.

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