KOBEA GROUP (CEO Lee Chang Yong), Asia Model Festival Organizing Committee (Chairman Yang Eui Sig), and Korean Art & Culture Evaluation Committee (Chairman Bae Han Sung) signed an agreement to focus on enhancing the status of Hallyu content through mutual joint projects not only in entertainment but also in Korea's Fine Art sector.
Korean Art & Culture Evaluation Committee has decided to allow the purchase of works by the Frank Bae Foundation with KBH and AMF tokens listed on the UZNEX Exchange (KOBEA GROUP) and agreed to enter the global market by registering its paintings that belong to KOBEA GROUP and the fund as STO (security type-token). In addition, Art Cater, which owns a platform for selling large-scale art products worth 500 billion won, will be operated on ebay, a global online auction site. In 2014, Sotheby's, the world's largest art auction company, holds the upper hand in the art market by joining hands with the global marketplace.
On the other hand, the late artist Bae Dong Sin's watercolor work "Girl's Award," a pioneer of Korean watercolor, was also sold for 1.5 million dollars on global online auction site eBay, Korean art became a hot topic in foreign media, and set a record price in Korea. Also, five collections of Frank Bae published on eBay in 2019, were contracted with Lotte Department Store's World Tower branch for international price 50 million dollars (about 59 billion won).
Meanwhile, Asia Model Festival Organizing Committee (AMFOC) and AMF Global are collaborating with governments and companies in connection with the blockchain platform for the Hallyu entertainment business such as Asian model and influencer management, Hallyu drama production, and E-commence business. As part of this project, the world's first UNTACT model competition will be held in early December. It is drawing attention as a new platform to promote viral Korean Wave contents around the world.