ARTIST · SETTLEMENT
Settlement Guide
Transparent and fair revenue settlement system
70%
Artist Revenue Rate
Industry-leading rate
10th & 25th
Settlement Cycle
Confirmed revenue since last payout
₩10,000
Min Settlement
Carried over if below minimum
Settlement Policy Notice
First Chorus applies an industry-leading revenue share rate of 70% to maximize support for artists' creative activities.Revenue Structure
| Score Price | $10 |
|---|---|
| Artist Revenue (70%) | $7 |
| Platform Fee (30%) | $3 |
* Platform fees include payment processing fees (2-3%), server & infrastructure costs, and marketing expenses.
Settlement Schedule
| Sales Period | Settlement Date | Payment Date | |
|---|---|---|---|
| Jan | Jan 1 - Jan 31 | Feb 10 | By Feb 15 |
| Feb | Feb 1 - Feb 28 | Mar 10 | By Mar 15 |
| Mar | Mar 1 - Mar 31 | Apr 10 | By Apr 15 |
Note
If the settlement date falls on a weekend or holiday, settlement will be processed on the next business day.Settlement Conditions
- Minimum Amount: Once your confirmed balance reaches ₩10,000 (or $50 for USD payouts) it is paid out automatically on the settlement date. Below that, it carries to the next one.
- Below Minimum: Your balance carries over to the next settlement date until it reaches the minimum
- Account Info: Settlement account must be registered in the artist dashboard
- Refunds: Buyer refunds are automatically deducted from that month's sales
Payment Methods
| Domestic Bank Transfer | International Wire Transfer |
|---|---|
| Deposit in KRW to a Korean bank account · min. ₩10,000 | USD wire to an overseas bank account via SWIFT/IBAN or ABA · min. $50 |
| No fees | Intermediary and receiving bank fees are borne by the recipient |
Tax Information
Individual Artists
- Tax: 3.3% withholding tax automatically deducted before payment
- Year-end: Payment statement provided every February
- Comprehensive income tax: Filed by individual in May of the following year
Business Artists
- Tax invoice automatically issued (monthly on the 10th)
- Full amount paid without withholding tax deduction
- VAT and comprehensive income tax filed by individual
Settlement History
- Access Artist Dashboard
After logging in, click 'Artist Dashboard' from the top menu
- Select Settlement Management
Click 'Settlement Management' from the left sidebar
- View Monthly Settlement History
Check monthly and per-score detailed sales and revenue statistics
- Download Settlement Statement
Download settlement statements in PDF format
Settlement Inquiries
If you have any questions about settlements, please contact us below.