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Article: KOREA'S LOCUS HOLDINGS SETS UP 15 BLN WON ENTERTAINMENT FUND.
- Article from:
- AsiaPulse News
- Article date:
- April 3, 2002
CopyrightCOPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SEOUL, April 3 Asia Pulse - Locus Holdings Co., an investment company, said Wednesday it has set up a 15 billion won (US$11.3 million) music industry fund in cooperation with Muhan Investment Co., a venture capitalist.
This fund is the largest ever in the music entertainment sector, and is also supported by the Ministry of Culture and Tourism and private firms Yahohpia, Media Solution and Agabang, sources from Locus Holdings said.
The new fund will primarily provide money to support recording and production, concerts, and related projects with high commercial and artistic vision, the sources said.
Utilizing Locus ...