Pioneer to outsider: Lucentblock CEO fights for survival in Korea's STO market
An unprecedented investment boom swept the country during the COVID-19 pandemic, fueled by abundant liquidity. Amid the frenzy, a new investment method known as "fractional investing" quickly gained traction. The emerging industry attracted a wave of entrepreneurs who helped shape its standards and practices. Among them was Lucentblock CEO Huh Se-young. His platform allowed investors to buy and…
During the COVID-19 pandemic, South Korea experienced an unprecedented investment boom. This surge in capital was driven by the abundance of liquidity in the market. As a result, a novel investment approach called fractional investing rapidly gained popularity. This innovative industry attracted a multitude of entrepreneurs who played a crucial role in establishing its standards and practices.
One prominent figure in this burgeoning sector is Lucentblock CEO Huh Se-young. Her platform enabled investors to purchase and sell fractional shares of properties valued at tens of billions of won. Since her company's inception in 2018, she has managed to amass 500,000 customers and has raised around 30 billion won ($22.65 million) via her platform.
Despite the industry's decline and regulatory actions, Huh persevered through the challenges. She has witnessed three presidents and six finance ministers come and go during her tenure. Huh skillfully navigated the regulatory landscape and implemented robust investor protection safeguards through the government's sandbox program.
Furthermore, she successfully persuaded financial institutions to adopt a structure that involves trust companies holding the underlying real estate assets and issuing beneficiary certificates, while her team manages the fractional shares.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
