Girl group RESCENE. [Herald Muse]
Girl group RESCENE. [Herald Muse]

The first institutional investor in girl group RESCENE has shared the story behind his decision to back the group three years ago.

Lee Hyun-song, chief executive of Smart Study Ventures, appeared Monday on the YouTube channel Video Mug to discuss his early investment in The Muse Entertainment, RESCENE's agency. Smart Study Ventures is the corporate venture capital arm of The Pinkfong Company.

"At the time I invested, there was only one member under a formal contract — Minami — and the RESCENE lineup hadn't been finalized yet," Lee said.

His investment decision came down to a single guide track for "YoYo." Lee said he listened to the song more than 50 times. "Every time I had doubts about the company, I would play the song while writing the investment review report," he said. "The song was just good."

Lee recalled the period as "right when NewJeans had just broken through."

"New jack swing felt like it was being received in K-pop as something very fresh and trendy," he said. He believed The Muse Entertainment's production team — trained at Berklee College of Music in the United States — had the background to ride that wave.

"I agonized over it right up until the investment committee meeting," Lee said. "I kept wondering whether this was even a deal I could bring to the committee."

Lee also disclosed one condition he attached to the investment. "I told them — and I know it was a bit forward — that I hoped the songwriting team would redirect their personal royalties to the company," he said. He explained that directors and writers often take a large share of production costs while the production company's sales remain relatively low. The Muse Entertainment's CEO Lee Ju-heon and director Kim Hye-su still do not collect royalties under their personal names.

"I'm so happy that three years after investing, all of Korea now knows RESCENE," Lee said. "I know how hard the founders struggled before debuting RESCENE, and what makes me proudest is that all that effort is now recognized under the name RESCENE."


dbsdn1110@heraldcorp.com