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…
The Korean STO market, brimming with investment fervor during the pandemic, sparked a surge in fractional investing platforms. Lucentblock CEO Huh Se-young spearheaded this movement, offering investors the opportunity to purchase and trade fractions of high-value properties. Since its inception in 2018, the platform has amassed 500,000 users and amassed a staggering 30 billion won in capital.
Despite the industry's contraction and government scrutiny, Huh persevered, weathering multiple leadership changes and regulatory hurdles. His platform implemented stringent investor protection measures under the government's sandbox program, and successfully convinced banks to adopt a trust-based structure.
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.
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