Hanryu Holdings' Application, FANTOO, Exclusively Markets and Hosts User Voting for Historical Asia Model Festival

New and existing FANTOO users have the opportunity to vote and watch the Asia Model Festival, as it celebrates its 18^th year anniversary

SEOUL, SOUTH KOREA / ACCESSWIRE / August 16, 2023 / Hanryu Holdings, Inc. (NASDAQ:HRYU) (the "Company" or "Hanryu"), a media-tech company and creator of FANTOO, an all-in-one social media experience connecting K-culture fans globally, announced exclusively marketing and providing users the opportunity to vote and watch the Asia Model Festival, which is celebrating its 18^th anniversary this year, through the application.

FANTOO has exclusively marketed several Asia Model Festival events including the Seoul finals (FACE of KOREA), and collaboration event with India's renowned fashion influencer, Badal Saboo. To date, the exclusive opportunity for FANTOO to hold a voting through FANTOO app, has allowed the application to gain several hundred thousand new users onto the FANTOO platform. The Company will continue to market future Asia Model Festivals and other well-known events.

Chang-Hyuk Kang, CEO and Director of Hanryu Holdings, commented, "By leveraging our FANTOO platform to market global events like Asia Model Festivals, we are able to not only engage with our existing over 26 million users, but also to acquire new users onto the platform for minimal acquisition costs. The popularity of this festival and the resulting increase in traffic to our application will offer us the opportunity to generate additional revenue from content, merchandise and advertising. We will continue to not only market this event, but other events including our own in the future. This is just one of our cost-effective strategies to continue scaling our user base on FANTOO."

About Hanryu Holdings

Hanryu Holdings, Inc., is the creator of the engaging and innovative social media platform, "FANTOO". FANTOO connects users around the world that share similar interests by providing distinctive service offerings, technologies, applications, and websites. Through FANTOO, we provide a global multi-media platform for our users to interact with other like-minded users, to share their appreciation of various types of entertainment and cultures, create their own content, enjoy other users' content, engage in commerce, and experience a "fandom" community we believe is unlike any other. For more information please visit www.hanryuholdings.com.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or future performance and include, without limitation, statements concerning the Company's business strategy, future revenues, market growth, capital requirements, product introductions, expansion plans and the adequacy of its funding, the proposed offering, and the plan to list on the The Nasdaq Capital Market. Other statements contained in this press release that are not historical facts are forward-looking statements. The Company has tried, wherever possible, to identify forward-looking statements by terminology such as "may," "will," "could," "should," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and other comparable terminology.

The Company cautions you that any forward-looking statements presented in this press release are based on the beliefs of, assumptions made by, and information currently available to us. Such statements are based on assumptions, and the actual outcome will be affected by known and unknown risks, trends, uncertainties, and factors that are beyond the Company's control or ability to predict. Although the Company believes that its assumptions are reasonable, it is not guaranteeing of future performance, and some will inevitably prove to be incorrect. As a result, the Company's actual future results can be expected to differ from its expectations, and those differences may be material. Accordingly, you should use caution in relying on forward-looking statements, which are based only on known results and trends at the time they are made, to anticipate future results or trends. Certain risks are discussed from time to time in the Company's filings with the SEC.

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by law, the Company is not obligated to publicly release any revisions to these forward-looking statements to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Company Contact:

Hanryu Holdings, Inc.
SunYoung Jang
jsy@fns.ai
contact@hanryuholdings.com

Investor Contact:

KCSA Strategic Communications
Valter Pinto, Managing Director
PH: (212) 896-1254
Hanryu@KCSA.com

SOURCE: Hanryu Holdings, Inc.