The industrial landscape surrounding intellectual property rights (IP) is rapidly being reshaped. In the past, utilizing character or content IP as simple merchandise was all there was, but now, IP itself has become a core asset that influences a brand's identity and revenue structure.
Amid this trend, there is a startup creating an expandable brand structure centered around IP. It is led by CEO Shin Seon-ho, a designer from Samsung Electronics' mobile division.
"After working as a UX designer at Samsung Electronics, I first started a design company to produce brands. Then I saw the impact IP-based products have on brands and officially launched fxIP."
He has personally run a design company and carried out numerous brand projects, discovering in the process that IP can be a key engine for brand growth rather than just a decoration.
"These days, consumption is not just about purchase. It's about experiencing the brand's worldview, feel, and fandom all at once. IP is a very powerful tool that can penetrate all of this. I thought it should not just end as a one-off merchandise, but be turned into a business."
The business model of fxIP is different from the typical licensing agencies. It goes beyond being a mediator that connects brands and IP, directly managing the entire process from product planning to design, manufacturing, distribution, and marketing, positioning both IP and the brand as primary agents. It coordinates various global IPs and brands such as Samsung, Apple, Pokémon, Atom, and creator IT Sub in a single project and translates them into concrete products and experiences.
A representative case is the 'Atom iPhone Edition.' This collaboration, which combines the Japanese original IP 'Atom,' Apple reseller networks, and IT YouTuber IT Sub, generated over 1 billion won in revenue as a single project and recorded 150 million won in sales at the The Hyundai Seoul pop-up store. It has been evaluated as a project that proved that 'IP business can be structurally expandable' through selling out pre-orders and opening a global direct sales mall.
"I went directly to present the proposal to the original Japanese Atom company and tried to persuade Apple through various reseller channels. It was literally like hitting a rock with an egg. However, many people surprisingly resonated with this plan, and in the end, the project was realized."
fxIP recorded sales of 2.8 billion won last year. Of this, about 70 million won was generated through its global direct sales mall. CEO Shin aims for annual revenue of 10 billion to 15 billion won with over 20% of sales coming from global markets by 2025. Currently, they are expanding online distribution through partnerships with Cream, Musinsa, CJ OnStyle, and Kakao, while also steadily developing offline pop-ups in collaboration with The Hyundai and Shinsegae.
The differentiation point is 'execution capability.' Most brands want to utilize IP but lack the design, manufacturing, and marketing capabilities, while conversely, IP holders often struggle with commerce operations. fxIP identifies the needs of both sides and executes quickly with high-quality products. Everything from design, manufacturing, fulfillment, and customer service is integrated in-house, receiving high praise for both efficiency and quality.
Recently, collaborations with K-pop artists have also begun to ramp up. Plans are in place to launch merchandising brands targeting global fandoms by collaborating with SM artists and independent artists. This is significant in that it can function as a new commerce partner for small and medium agencies, unlike large planning companies like HYBE that have their own platforms.
CEO Shin stated, "The IP-based brand business has not yet structurally settled down," adding, "I believe we need to take on the role of creating the industry structure and persuading the market." He proposed a mid-to-long-term roadmap for fxIP that includes launching private brands, global expansion, and an initial public offering (IPO) in 2028.