Hanryu (HRYU) 10-Q19 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 19, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Information [Line Items]
Entity Registrant Name	Hanryu Holdings, Inc.
Entity Central Index Key	0001911545
Entity File Number	001-41763
Entity Tax Identification Number	88-1368281
Entity Incorporation, State or Country Code	DE
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	No
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	160, Yeouiseo-ro
Entity Address, Address Line Two	Yeongdeungpo-gu
Entity Address, City or Town	Seoul
Entity Address, Country	KR
Entity Address, Postal Zip Code	07231
Entity Phone Fax Numbers [Line Items]
City Area Code	+82
Local Phone Number	2-564-8588
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	HRYU
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		52,808,589

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and Cash Equivalents	$ 6,975	$ 5,427,830
Short-term loans receivable	8,923,661	3,789,900
Accounts receivable, net of allowance	316,766	324,413
Non-trade receivables	26,756	171,892
Prepaid expenses and other receivable	7,881,734	7,903,035
Total current assets	17,155,892	17,617,070
PROPERTY PLANT AND EQUIPMENT, NET	331,332	629,185
OPERATING LEASE RIGHT-OF-USE ASSET	1,687,544	1,918,966
OTHER ASSETS	240,907	379,735
Total Assets	19,415,675	20,544,956
CURRENT LIABILITIES:
Short-term loans payable	2,214,681	1,589,887
Short-term loans payable from related parties	15,438
Non-trade accounts payable	3,051,844	2,312,669
Bonds with warrants, net	3,410,124	3,489,995
Accrued expenses and other current liabilities	107,814	83,940
Total current liabilities	8,799,901	7,476,491
Total Liabilities	8,799,901	7,476,491
Commitments and contingencies (Note 13)
STOCKHOLDER’S EQUITY:
Common Stock, $0.001 par value authorized 110,000,000 (common:100,000,000, preferred:10,000,000) shares; Issued and outstanding 52,808,589 common shares as of September 30, 2024 and December 31, 2023	52,809	52,809
Additional paid-in capital	51,415,476	51,415,476
Accumulated deficit	(40,994,441)	(38,893,762)
Accumulated other comprehensive income(loss)	141,930	493,942
Total Stockholders’ Equity	10,615,774	13,068,465
Total Liabilities and Stockholders’ Equity	$ 19,415,675	$ 20,544,956

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Shares authorized	110,000,000	110,000,000
Common stock, shares issued	52,808,589	52,808,589
Common stock, shares outstanding	52,808,589	52,808,589
Common stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares authorized	10,000,000	10,000,000
Common Stock, par value (in Dollars per share)	$ 0.001	$ 0.001

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Sales		$ 714,872	$ 198	$ 980,641
Cost of Revenue		445,169		514,314
Gross profit		269,703	198	466,327
Operating cost and expenses	(371,268)	(3,229,334)	(2,110,025)	(9,018,805)
Loss from operations	(371,268)	(2,959,631)	(2,109,827)	(8,552,478)
OTHER INCOME (EXPENSE):
Loss on disposal of tangible assets	443		(24,134)
Interest income (expense), net	70,395	47,181	221,478	44,609
Gain (loss) on foreign currency transactions	(849)	141,753	3,782	139,976
Bad-debt expense of other assets	(189,992)		(189,992)
Other expense, net	(437)	8,336	(1,986)	(5,386)
Net other income(loss)	(120,440)	197,270	9,148	179,199
Net Loss from continuing operations before taxes	(491,708)	(2,762,361)	(2,100,679)	(8,373,279)
Net loss from continuing operations	(491,708)	(2,762,361)	(2,100,679)	(8,373,279)
Discontinued operations:
Loss from discontinued operations		(342,213)		(790,547)
Loss from discontinued operation		(342,213)		(790,547)
Net Loss	(491,708)	(3,104,574)	(2,100,679)	(9,163,826)
Less net loss attributable to non-controlling interest		(23,702)		(32,891)
Net Loss attributable to equity holders of the Company	(491,708)	(3,080,872)	(2,100,679)	(9,130,935)
Net Loss	$ (491,708)	$ (3,104,574)	$ (2,100,679)	$ (9,163,826)
Basic net loss per share:
Loss from continuing operations (in Dollars per share)	$ (0.01)	$ (0.05)	$ (0.04)	$ (0.17)
Loss from discontinued operations (in Dollars per share)		(0.01)		(0.02)
Total basic net loss per share (in Dollars per share)	(0.01)	(0.06)	(0.04)	(0.19)
Diluted net loss per share
Loss from continuing operations (in Dollars per share)	(0.01)	(0.05)	(0.04)	(0.12)
Loss from discontinued operations (in Dollars per share)		(0.01)		(0.01)
Total diluted net loss per share (in Dollars per share)	$ (0.01)	$ (0.06)	$ (0.04)	$ (0.13)
Weighted average number of common shares outstanding:
Basic (in Shares)	52,808,589	52,493,895	52,808,589	49,726,583
Diluted (in Shares)	52,808,589	52,493,895	52,808,589	49,726,583

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($)	Common Stock $0.42 Per Share by Cash Considerations	Common Stock $1.27 Per Share by Cash Considerations	Common Stock $1.27 Per Share by Non-Cash Consideration	Common Stock	Additional Paid-in and Other Capital $0.42 Per Share by Cash Considerations	Additional Paid-in and Other Capital $1.27 Per Share by Cash Considerations	Additional Paid-in and Other Capital $1.27 Per Share by Non-Cash Consideration	Additional Paid-in and Other Capital	Accumulated Deficit $0.42 Per Share by Cash Considerations	Accumulated Deficit $1.27 Per Share by Cash Considerations	Accumulated Deficit $1.27 Per Share by Non-Cash Consideration	Accumulated Deficit	Accumulated other Comprehensive Gain (Loss) $0.42 Per Share by Cash Considerations	Accumulated other Comprehensive Gain (Loss) $1.27 Per Share by Cash Considerations	Accumulated other Comprehensive Gain (Loss) $1.27 Per Share by Non-Cash Consideration	Accumulated other Comprehensive Gain (Loss)	Non-controlling interests $0.42 Per Share by Cash Considerations	Non-controlling interests $1.27 Per Share by Cash Considerations	Non-controlling interests $1.27 Per Share by Non-Cash Consideration	Non-controlling interests	$0.42 Per Share by Cash Considerations	$1.27 Per Share by Cash Considerations	$1.27 Per Share by Non-Cash Consideration	Total
Balance at Dec. 31, 2022				$ 45,417				$ 27,578,666				$ (29,607,852)				$ 879,420				$ (236,166)				$ (1,340,515)
Balance (in Shares) at Dec. 31, 2022				45,416,942
Issuance of common stock				$ 240				2,399,760																2,400,000
Issuance of common stock (in Shares)				240,000
Exercise of warrants, net of issuance costs	$ 20	$ 1,118	$ 309		$ 8,380	$ 1,419,025	$ 392,667														$ 8,400	$ 1,420,143	$ 392,976
Exercise of warrants, net of issuance costs (in Shares)	20,000	1,118,223	309,430
Currency translation adjustment																(69,107)				5,042				(64,065)
Net loss												(3,061,555)								(5,776)				(3,067,331)
Balance at Mar. 31, 2023				$ 47,104				31,798,498				(32,669,407)				810,313				(236,900)				(250,392)
Balance (in Shares) at Mar. 31, 2023				47,104,595
Balance at Dec. 31, 2022				$ 45,417				27,578,666				(29,607,852)				879,420				(236,166)				(1,340,515)
Balance (in Shares) at Dec. 31, 2022				45,416,942
Net loss																								(9,163,826)
Balance at Sep. 30, 2023				$ 52,809				51,671,647				(38,738,715)				395,924				(318,831)				13,062,834
Balance (in Shares) at Sep. 30, 2023				52,808,589
Balance at Mar. 31, 2023				$ 47,104				31,798,498				(32,669,407)				810,313				(236,900)				(250,392)
Balance (in Shares) at Mar. 31, 2023				47,104,595
Issuance of common stock				$ 760				7,599,240																7,600,000
Issuance of common stock (in Shares)				760,000
Exercise of warrants, net of issuance costs	$ 1,000	$ 3,067			$ 419,000	$ 3,891,599															$ 420,000	$ 3,894,666
Exercise of warrants, net of issuance costs (in Shares)	1,000,000	3,066,666
Currency translation adjustment																252,277				(13,114)				239,163
Net loss												(3,006,886)								14,965				(2,991,921)
Balance at Jun. 30, 2023				$ 51,931				43,708,337				(35,676,293)				1,062,590				(235,049)				8,911,515
Balance (in Shares) at Jun. 30, 2023				51,931,261
Issuance of common stock				$ 878				7,963,310																7,964,188
Issuance of common stock (in Shares)				877,328
Currency translation adjustment																(666,666)				(41,630)				(708,296)
Net loss												(3,006,422)								(42,152)				(3,104,574)
Balance at Sep. 30, 2023				$ 52,809				51,671,647				(38,738,715)				395,924				(318,831)				13,062,834
Balance (in Shares) at Sep. 30, 2023				52,808,589
Balance at Dec. 31, 2023				$ 52,809				51,415,476				(38,893,762)				493,942								$ 13,068,465
Balance (in Shares) at Dec. 31, 2023				52,808,589																				52,808,589
Currency translation adjustment																(542,705)								$ (542,705)
Net loss												(1,047,071)												(1,047,071)
Balance at Mar. 31, 2024				$ 52,809				51,415,476				(39,940,833)				(48,763)								11,478,689
Balance (in Shares) at Mar. 31, 2024				52,808,589
Balance at Dec. 31, 2023				$ 52,809				51,415,476				(38,893,762)				493,942								$ 13,068,465
Balance (in Shares) at Dec. 31, 2023				52,808,589																				52,808,589
Net loss																								$ (2,100,679)
Balance at Sep. 30, 2024				$ 52,809				51,415,476				(40,994,442)				(141,930)								$ 10,615,774
Balance (in Shares) at Sep. 30, 2024				52,808,589																				52,808,589
Balance at Mar. 31, 2024				$ 52,809				51,415,476				(39,940,833)				(48,763)								$ 11,478,689
Balance (in Shares) at Mar. 31, 2024				52,808,589
Currency translation adjustment																(350,151)								(350,151)
Net loss												(561,900)												(561,900)
Balance at Jun. 30, 2024				$ 52,809				51,415,476				(40,502,733)				(398,914)								10,566,638
Balance (in Shares) at Jun. 30, 2024				52,808,589
Currency translation adjustment																540,844								540,844
Net loss												(491,708)												(491,708)
Balance at Sep. 30, 2024				$ 52,809				$ 51,415,476				$ (40,994,442)				$ (141,930)								$ 10,615,774
Balance (in Shares) at Sep. 30, 2024				52,808,589																				52,808,589

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Private placement, net of issuance costs	$ 10	$ 10	$ 10
$0.42 Per Share by Cash Considerations
Exercise of warrants at per share		0.42	0.42
$1.27 Per Share by Cash Considerations
Exercise of warrants at per share		$ 1.27	1.27
$1.27 Per Share by Non-Cash Consideration
Exercise of warrants at per share			$ 1.27

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss from continuing operations	$ (2,100,679)	$ (8,373,279)
Depreciation	167,564	237,579
Loss on disposal of tangible assets	24,134
Bad-debt expense of other assets	189,992
Amortization of right-of-use asset	182,896	190,285
Accounts receivable	217	(23,414)
Non-trade receivable	121,668	635,098
Prepaid expenses and other current assets	(232,982)	(3,285,675)
Other assets	126,940	(22,987)
Non-trade payable	834,458	(118,928)
Accrued expenses and other current liabilities	25,160	(42,430)
Net cash used in operating activities of continuing operations	(660,632)	(10,803,751)
CASH FLOWS FROM INVESTING ACTIVITIES:
Receipt from collection of short-term loan receivable	138,969	5,141,575
Proceeds from the sale of property, plant, and equipment	86,000
Sales of investments
Payment for short-term loan receivable	(5,332,446)	(5,692,779)
Purchase of property plant and equipment		(711,392)
Net cash (used in) provided by investing activities of continuing operations	(5,107,477)	(1,262,596)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from short-term loan payable	614,292	909,958
Proceeds from short-term loan payable from related parties	400	615,844
Proceeds from exercising warrants		6,054,390
Net proceeds from issuance of common stock		18,645,572
Repayment of short-term loan payable	(14,784)	(304,435)
Repayment of short-term loan payable from related parties	(400)	(2,315,781)
Net cash provided by financing activities of continuing operations	599,508	23,605,548
Net change in cash – continued operations	(5,168,601)	11,539,210
Cash from discontinued operations:
Net cash used in operating activities of discontinued operations	0	(641,202)
Net cash used in investing activities of discontinued operations	0	(18,507)
Net cash used in financing activities of discontinued operations	0	680,942
Net change in cash – discontinued operations		21,233
Cash beginning of the year- continued operations	5,427,830	118,263
Cash beginning of the year - discontinued operations		694
Beginning cash	5,427,830	118,957
Cash end of the year – continued operations	6,975	11,701,361
Cash end of the year - discontinued operations		10,945
Ending cash	6,975	11,712,306
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(5,168,601)	11,560,443
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(252,254)	32,906
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD	5,427,830	118,957
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	6,975	11,712,306
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash receipt (paid) for interest – all operations	6,245	61
Less Cash receipt for interest - discontinued operations		2,616
Cash receipt (paid) for interest – continued operations	6,245	(2,555)
Cash receipt (paid) during the period for interest	6,245	(2,555)
Supplemental disclosure of non-cash investing and financing activities:
Offsetting short-term loan payables by exercising warrants to purchase 309,430 common stock		(392,976)
Total		$ (392,976)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Statement of Cash Flows [Abstract]
Offsetting short-term loan payables by exercising warrants to purchase	309,430	309,430

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
NET LOSS	$ (491,708)	$ (3,104,574)	$ (2,100,679)	$ (9,163,826)
Other comprehensive income (loss):	540,844	(666,666)		(483,496)
Change in foreign currency translation adjustment		(41,360)	(350,012)	(49,702)
Change in foreign currency translation adjustment to attributable to noncontrolling interest
COMPREHENSIVE LOSS	49,136	(3,812,870)	(2,452,691)	(99,697,024)
Less : Comprehensive Income/(Loss) attributable to noncontrolling interest		23,702		32,891
Comprehensive Income(Loss) attributable to the Company	$ 49,136	$ (3,789,168)	$ (2,452,691)	$ (9,664,133)

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
Nature of Operations and Basis of Presentation	Sep. 30, 2024
Nature of Operations and Basis of Presentation [Abstract]
NATURE OF OPERATIONS AND BASIS OF PRESENTATION	NOTE 1 — NATURE OF OPERATIONS AND BASIS OF PRESENTATION Business Hanryu Holdings, Inc., a Delaware corporation (“ Hanryu Holdings HBC FNS Marine Island Korea ROK Company we us Hanryu K-Culture Corporate History Since the inception of HBC in 2018, we have accomplished a number of key objectives, as follows: Date Event/Milestone October 18, 2018 HBC is incorporated under the laws of the ROK with the idea of creating an all-in-one product to capture the growing global momentum and popularity of K-Culture. October 29, 2020 HBC establishes FNS and begins the initial stages of designing and implementing a platform that can create a fandom networking system. March 11, 2021 HBC establishes Hanryu Times Co., Ltd (“Hanryu Times”). Hanryu Times begins operations as HBC’s media outlet, reporting on and providing up-to-date K-Culture news within the FANTOO platform, across a number of languages, including English, Japanese, Chinese (simplified/traditional), Indonesian, Spanish, Russian, and Portuguese. March 31, 2021 HBC consummates an agreement and plan of merger (the “ Merger Agreement RnDeep RnDeep Acquisition Common Shares As a result of the RnDeep Acquisition, HBC acquired the underlying technologies that the Company plans on utilizing in the future development of new functions and integrations within the FANTOO platform. Once the FANTOO platform is ready to integrate the technology acquired, this technology will support new functions and integrations including, without limitation, the Company’s enterprise resource planning solution, and its artificial intelligence (“ AI May 17, 2021 The FANTOO platform is launched and made available to the public. June 30, 2021 HBC enters into an agreement to acquire all the issued and outstanding common shares of Marine Island (the “ Marine Island Acquisition Seoul Marina Sewang KRW Date Event/Milestone August 30, 2021 HBC establishes FANTOO Entertainment Co., Ltd (“FANTOO Entertainment”). FANTOO Entertainment provides a variety of content to the Company’s FANTOO platform, which contributes to the spread of the Korean Wave by promoting new entertainers and artists. October 3, 2021 HBC consummates the Marine Island Acquisition, making it the owner of 100% of the issued and outstanding common shares of Marine Island. October 3, 2021 HBC consummates a strategic acquisition of 50.8% of the outstanding common shares of K-Commerce Co., Ltd (“K-Commerce”). In consideration for the shares of K-Commerce, HBC forgave a short-term loan of $270,530 (KRW 309,600,000) owed to HBC by K-Commerce. HBC’s investment into K-Commerce was a strategic acquisition in order to integrate K-Commerce’s retail platform, “SelloveLive” into the FANTOO ecosystem as the FANTOO Fanshop. When launched as the FANTOO Fanshop, K-Commerce’s platform will offer combined services of shopping and live broadcasting, allowing users to easily live-stream travel and share local attractions, local festivals, cultures, and news from around the world. Prior to HBC’s acquisition of its shares in K-Commerce, K-Commerce was 100% owned by Changhyuk Kang, the Company’s former Chief Executive Officer and Donghoon Park, the Company’s Chief Marketing Officer. October 20, 2021 Hanryu Holdings is incorporated in the State of Delaware. February 25, 2022 through May 10, 2022 Hanryu Holdings, HBC, and the shareholders of HBC (the “ HBC Shareholders Share Exchange Agreement Common Stock Share Exchange Concurrently with entering into the Share Exchange Agreement, the Company, HBC, and the holders (the “ HBC Warrantholders HBC Warrants Warrant Exchange The Warrants and Common Shares of HBC transferred to the Company in the Share Exchange and the Warrant Exchange constituted 100% of the outstanding equity securities of HBC. June 16, 2022 Hanryu Holdings, HBC, the HBC Shareholders, and the HBC Warrantholders consummate the Share Exchange and Warrant Exchange concurrently, pursuant to which HBC became a wholly owned subsidiary of the Company, and the HBC Stockholders and HBC Warrantholders, collectively, acquired a controlling interest in the Company. June 22, 2022 The Company divests itself of all Kingdom Coin (“ KDC Divestiture Agreement KDC Foundation KDC Divestiture August 1, 2023 The shares of the Company are listed on the Nasdaq Capital Market. December 28, 2023 HBC sold owned whole shares of Hanryu Times, Fantoo Entertainment, and K-Commerce, so the business from the three companies became the discontinued operations. Going Concern The Company has experienced recurring losses from operations and has stockholders’ equity and working capital of $10,615,774 and $8,355,991 as of September 30, 2024, respectively and $13,068,465 and $10,140,579 as of December 31, 2023, respectively. Also, the Company has operating losses of $2,109,827 and $8,552,478 for the nine months ended September 30, 2024 and September 30, 2023, respectively. These uncertainties raise substantial doubt about the Company’s ability to continue as a going concern for twelve (12) months after the issuance date of these financial statements. The accompanying financial statements have been prepared under the assumption that we will continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of us to continue as a going concern. Our future operations are dependent upon multiple factors, including (i) the success of our FANTOO platform business; (ii) competition from existing and future services from other companies; and (iii) securing new sources of capital to fund operations and develop markets. We will maintain an ongoing effort to improve and innovate FANTOO platform business to generate funds for our operations. For instance, we recently launched FANTOO House which is located in Seoul, and at FANTOO platform, we will launch (i) Epic branded ecommerce platform that we will expect it as a major source of new income, and (ii) dedicated video production operations that will create short episodic content that focuses on K-POP fandom. In addition, we maintain an ongoing effort to raise funds for our operations from current investors and new sources of capital through the issuance of additional common stock and/or short-term notes. However, there can be no assurance as to the outcome of these factors or that future funding efforts will generate sufficient capital to maintain our operations.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	Sep. 30, 2024
Significant Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES A summary of the significant accounting policies followed by the Company in the preparation of the accompanying Condensed Consolidated financial statements follows: Principles of Consolidation The Condensed Consolidated financial statements of the Company include the financial statements of Hanryu Holdings, and its three wholly owned subsidiaries, HBC, FNS, and Marine Island in the third quarter of 2024 and in 2023, and its five wholly owned subsidiaries, HBC, FNS, Hanryu Times, Fantoo Entertainment, and Marine Island and majority-owned subsidiary (50.8%), K-Commerce in the third quarter of 2023. All significant intercompany transactions and balances have been eliminated in consolidation. Non-controlling interests are measured at their proportionate share of the acquiree’s identifiable net assets at the acquisition date. Changes in the Condensed Consolidated group’s interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. The ownership of non-controlling interests of K-Commerce, our significant Condensed Consolidated subsidiary as of September 30, 2023, was 49.2%. Since HBC sold owned whole shares of Hanryu Times, Fantoo Entertainment, and K-Commerce, on December 28, 2023, they are not Condensed Consolidated from December 28, 2023, and the controlling interests of K-Commerce become $0. Foreign Currency The Company’s functional currency for all operations is the KRW. The Company’s accounting records are maintained in KRW, and translated into U.S. Dollars at year-end for the purposes of presentation. During the translation process, the year-end closing exchange rate is used for the valuation of all assets and liabilities, historical exchange rate is used to value stockholder’s equity, and the average exchange rate for the year is used for the calculation of the Condensed Consolidated financial statements. The net impact of the translation into the U.S. Dollar is included in the accumulated other comprehensive income (loss) of the Company’s Condensed Consolidated balance sheet as of September 30, 2024 and December 31, 2023. During the nine months ended September 30, 2024, there was a fluctuation in the exchange rates ranging from KRW 1,310.00/USD $1 to KRW 1,393.50/USD $1. Also, cash flows are also translated at average translation rates for the periods, therefore, amounts reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the Condensed Consolidated balance sheets Use of Estimates The preparation of the Company’s Condensed Consolidated financial statements and related disclosures in conformity with U.S. Generally Accepted Accounting Principles (“ US GAAP Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. The Company maintains its cash in bank deposit accounts which, at times, may exceed the federal insurance limit, and the balance of deposit accounts of the Company doesn’t exceed the federal insurance limit as of September 30, 2024. Accounts Receivable Accounts receivables are recorded at the invoiced amount and do not bear interest. Amounts collected on trade accounts receivable are included in net cash provided by operating activities in the Condensed Consolidated statements of cash flows. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management considers historical losses adjusted to take into account current market conditions and customers’ financial condition in dispute, and the current receivables aging and current payment patterns. The Company reviews its allowance for doubtful accounts quarterly. Past-due balances over 90 days and over a specified amount are reviewed individually for collectability. Account balances are written off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company recorded the allowance of $0 on the accompanying Condensed Consolidated balance sheets as of September 30, 2024, and December 31, 2023. The Company does not have any off-balance-sheet credit exposure related to its customers. Non-Trade Receivables Non-trade receivables are recorded at the invoiced amount and do not bear interest. Amounts collected on non-trade receivables are included in net cash provided by operating activities in the Condensed Consolidated statements of cash flows. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its non-trade receivables portfolio. In establishing the required allowance, management considers historical losses adjusted to take into account current market conditions and customers’ financial condition in dispute, and the current receivables aging and current payment patterns. The Company reviews its allowance for doubtful accounts quarterly. Past-due balances over 90 days and over a specified amount are reviewed individually for collectability. Account balances are written off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company recorded the allowance of $0 and $0 on the accompanying Condensed Consolidated balance sheets as of September 30, 2024 and December 31, 2023 respectively. The Company does not have any off-balance-sheet credit exposure related to its customers. Credit Losses The Company maintains current receivable amounts with most of its customers and vendors. The Company regularly monitors and assesses its risk of not collecting amounts owed by them. This evaluation is based upon an analysis of current and past due amounts, along with relevant history and facts particular to the customer. The Company records its allowance for credit losses based on the results of this analysis. The analysis requires the Company to make significant estimates and as such, changes in facts and circumstances could result in material changes in the allowance for credit losses. The Company considers as past due any receivable balance not collected within its contractual terms. The Company wrote off $112,690 of short-term loan receivables and $77,302 of prepaid expenses and other receivable as of September 30, 2024. Revenue Recognition The Company anticipates generating revenues from (i) FANTOO platform through advertising, direct sales, and user to user commissions, and (ii) other businesses. Revenue billed or collected in advance will be recorded as deferred revenue until the event occurs or until applicable performance obligations are satisfied. Revenue is recognized when the Company transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods and services. In this regard, revenue is recognized when: (i) the parties to the contract have approved the contract (in writing, orally, or in accordance with other customary business practices) and are committed to perform their respective obligations; (ii) the entity can identify each party’s rights regarding the goods or services to be transferred; (iii) the entity can identify the payment terms for the goods or services to be transferred; (iv) the contract has commercial substance (that is, the risk, timing, or amount of the entity’s future cash flows is expected to change as a result of the contract); and (v) it is probable that the entity will collect substantially all of the consideration to which it will be entitled in exchange for the goods or services that will be transferred to the customer. Transaction prices are based on the amount of consideration to which we expect to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties, if any. We consider the explicit terms of the revenue contract, which are typically written and executed by the parties, our customary business practices, the nature, timing, and the amount of consideration promised by a customer in connection with determining the transaction price for our revenue arrangements. Refunds and sales returns historically have not been material. For the nine months ended September 30, 2024 and September 30, 2023, the Company recognized product sales revenue amounting to $0 and $71,521, respectively. Revenue is derived at the point in time when merchandise is sold and shipped or delivered to customers. Merchandise sales are fulfilled with inventory sourced from our owned inventory. Although the Company does not currently have any inventory as of the balance sheet date, the Company, from time to time, may hold products in inventory for an abbreviated amount of time before shipping such inventory and recognizing the corresponding revenue. Revenue is recognized when control of the product passes to the customer, typically at the date of delivery of the merchandise to the customer, or the date a service is provided and is recognized in an amount that reflects the expected consideration to be received in exchange for such goods or services. As such, customer orders are recorded as unearned revenue prior to delivery of products or services ordered. If the Company ships high volumes of packages through multiple carriers, the Company will use estimates to determine which shipments are to be delivered and, therefore, recognized as revenue at the end of the period. Delivery date estimates are based on average shipping transit times, which are calculated using the following factors: (i) the type of shipping carrier (as carriers have different in-transit times); (ii) the fulfilment source; (iii) the delivery destination; and (iv) actual transit time experience, which shows that delivery date is typically one to eight business days from the date of shipment. The Company reviews and updates our estimates on a quarterly basis based on our actual transit time experience. However, actual shipping times may differ from our estimates. Generally, the Company requires authorization from credit cards or other payment vendors whose services the Company offers to customers or verification of receipt of payment, before the Company ships products to purchasers. The Company generally receives payments from our customers before our payments to our suppliers are due. The Company does not recognize assets associated with costs to obtain or fulfill a contract with a customer. Shipping and handling is considered a fulfillment activity, as it takes place prior to the customer obtaining control of the merchandise, and fees charged to customers are included in net revenue upon completion of our performance obligations. The Company presents revenue net of sales taxes, discounts, and expected refunds. Merchandise sales contracts include terms that could cause variability in the transaction price for items such as discounts, credits, or sales returns. Accordingly, the transaction price for product sales includes estimates of variable consideration to the extent it is probable that a significant reversal of revenue recognized will not occur. At the time of sale, the Company estimates a sales return liability for the variable consideration based on historical experience, which is recorded within “Accrued Liabilities” in the Condensed Consolidated balance sheet. The Company records an allowance for returns based on current period revenues and historical returns experience. The Company analyzes actual historical returns, current economic trends and changes in order volume, and acceptance of our products when evaluating the adequacy of the sales returns allowance in any accounting period. The Company evaluates the criteria outlined in the Financial Accounting Standards Board (“ FASB ASC Principal versus Agent Considerations Cost of Revenue Cost of revenue is recognized at the time the products or services are delivered to the customers. Cost of revenue includes all direct labor, material, shipping and handling cost and other direct costs such as travel, postage, telecommunication, vehicle charge, printing, and training, and allocated indirect costs related to revenue such as supplies, utilities, office equipment rental, and computers. Property Plant and Equipment Property plant and equipment are carried at cost (see Note 5). Depreciation expense is provided over the estimated useful lives of the assets using the straight line method for vehicles and the declining balance method for fixtures and equipment. A summary of the estimated useful lives is as follows: Classification Estimated Vehicles 5 Fixtures 5 Equipment 5 Maintenance and repairs are charged to expense as incurred, while any additions or improvements are capitalized. The Company evaluates property and equipment for impairment when facts and circumstances indicate that the carrying values of such assets may not be recoverable. When evaluating for impairment, the Company first compare the carrying value of the asset to the asset’s estimated future undiscounted cash flows. If the estimated undiscounted future cash flows are less than the carrying value of the asset, the Company determines if there is an impairment loss by comparing the carrying value of the asset to the asset’s estimated fair value and recognizes an impairment charge when the asset’s carrying value exceeds its estimated fair value. The fair value of the asset is estimated using a discounted cash flow model based on forecasted future revenues and operating costs, using internal projections. There were no significant property and equipment asset impairment charges recorded during the nine months ended September 30, 2024 and September 30, 2023. Impairment of Long-Lived Assets The Company assesses the recoverability of long-lived assets whenever events or changes in circumstances indicate that their carrying value may not be recoverable. If the cost basis of a long-lived asset is greater than the projected future undiscounted net cash flows from such asset, an impairment loss is recognized. Impairment losses are calculated as the difference between the cost basis of an asset and its estimated fair value. There were no significant long-lived assets impairment charges recorded during the nine months ended September 30, 2024 and September 30, 2023. Concentrations of Credit Risk Cash and cash equivalents are financial instruments that potentially subject the Company to concentrations of credit risk. The Company may maintain deposits in financial institutions in excess of government insured limits. The Company believes that it is not exposed to significant credit risk as its deposits are held at financial institutions that management believes to be of high credit quality and the Company has not experienced any losses on these deposits. The Company is also potentially subject to concentrations of credit risk in its accounts receivable and loans. Credit risk with respect to receivables is limited due to the number of companies comprising the Company’s customer base. Credit risk with respect to loans is limited since they are made principally related to the collaborative activities between the Company and loan holders. Since the Company is directly affected by the financial condition of its customers and loan holders, management carefully watch if any significant credit risks exist, and they will make actions to remove or mitigate such risks if there are any. For the nine months ended September 30, 2024 and September 30, 2023, over 10% of the revenues are from two customers and one customer, respectively, but there are no receivable balances from them. Also, over 10% of the account receivable for the year ended December 31, 2023 is from Hanryu Times, which was the affiliated company by December 28, 2023, and Hanryu Times and the Company already agreed to the payment plan that Hanryu Times would pay back all by the end of December 31, 2024. Therefore, as of September 30, 2024 and December 31, 2023, the Company believes that the credit risk for the account receivables is manageable and controllable. Generally, the Company does not require collateral or other securities to support its accounts receivable and loans. Fair Value of Financial Instruments The fair value of Company’s financial instruments, consisting of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, debt receivables, debt payables approximate their recorded amounts due to their relatively short settlement terms. Fair Value Measurements The Company applies a three-level valuation hierarchy for fair value measurements. The categorization of assets and liabilities within the valuation hierarchy is based on the lowest level of input that is significant to the measurement of fair value. Level 1 Inputs to the valuation methodology utilize unadjusted quoted market prices in active markets for identical assets and liabilities. Level 2 Inputs to the valuation methodology are other observable inputs, including quoted market prices for similar assets and liabilities, quoted prices for identical and similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 Inputs to the valuation methodology are unobservable inputs based on management’s best estimate of the inputs that market participants would use in pricing the asset or liability at the measurement date, including assumptions about risk. A change to the level of an asset or liability within the fair value hierarchy is determined at the end of a reporting period. Investments The Company’s investments are carried at historical cost. As of September 30, 2024 and December 31, 2023, there is no balance of investments. Earning (Loss) Per Share Basic earning (loss) per share is computed by dividing the income or loss by the weighted-average number of outstanding shares of Common Stock for the applicable period. Diluted earning (loss) per share is computed by dividing the income or loss by the weighted-average number of outstanding shares of Common Stock for the applicable period, including the dilutive effect of Common Stock equivalents. Potentially dilutive Common Stock equivalents primarily consist of warrants issued in connection with financings. For purposes of computing both basic and diluted earning (loss) per share, income or loss shall exclude the income or loss attributable to the non-controlling interest. The Company calculates net loss per share in accordance with FASB ASC Topic 260, Earnings Per Share Income Taxes Deferred income tax assets and liabilities are determined based on differences between the financial statement reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws in effect when the differences are expected to reverse. The measurement of deferred income tax assets is reduced, if necessary, by a valuation allowance for any tax benefits which are not expected to be realized. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in the period that such tax rate changes are enacted. We have determined that all of our deferred tax benefits are not likely to be realized due to our historical and expected future taxable losses. Accordingly, we have maintained a full valuation allowance. The Company applies the provisions of FASB ASC Topic 740-10, Uncertainty in Income Taxes Income taxes on the Company’s taxable income from operating activities are subject to various tax laws and determinations of the authority in the ROK. Regarding taxes payable in the ROK, if a certain portion of taxable income is not used for investments or for increases in wages or dividends, in accordance with the Tax System for Recirculation of Corporate Income, the Company is liable to pay additional income tax calculated based on Korean tax law. The Company assesses uncertainty over a tax treatment. When the Company concludes it is not probable that the taxation authority will accept an uncertain tax treatment, the Company will reflect the effect of uncertainty for each uncertain tax treatment by using either of the following methods, depending on which method the Company expects to better predict the resolution of the uncertainty; ● The most likely amount: The single most likely amount in a range of possible outcomes. ● The expected value: The sum of the probability-weighted amounts in a range of possible outcomes. Lease Under ASC 842, the determination of whether an arrangement is a lease is made at the lease’s inception and a contract is (or contains) a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is defined under the standard as having both the right to obtain substantially all of the economic benefits from use of the asset and the right to direct the use of the asset. Management only reassesses its determination if the terms and conditions of the contract are changed. Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities, and operating lease liabilities in our balance sheets. Finance leases are included in property and equipment, other current liabilities, and other long-term liabilities in our balance sheets. ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The Company uses the implicit rate when it is readily determinable. Since most of the Company’s leases do not provide an implicit rate, to determine the present value of lease payments, management uses the Company’s incremental borrowing rate based on the information available at lease commencement. Operating lease ROU assets also includes any lease payments made and excludes any lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately with amounts allocated to the lease and non-lease components based on stand-alone prices or for which it has made an accounting policy election to account for these as a single lease component. For certain equipment leases, like vehicles, the Company accounts for the lease and non-lease components as a single lease. Refer to Note 6 for additional disclosures required as a result of the adoption of this new standard. Recently Issued Accounting Standards In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures In August 2020, the FASB issued ASU No. 2020-06, Debt Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging Contracts in Entity s Own Equity (Subtopic 815-40) Accounting for Convertible Instruments and Contracts in an Entity s Own Equity ASU 2020-06 In November 2019, the FASB issued ASU 2019-10, “ Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates

Short-Term Loan Receivables

Short-Term Loan Receivables	9 Months Ended
Short-Term Loan Receivables	Sep. 30, 2024
Short-Term Loan Receivables [Abstract]
SHORT-TERM LOAN RECEIVABLES	NOTE 3 — SHORT-TERM LOAN RECEIVABLES The following table summarizes information with regard to short-term loan receivables outstanding as of September 30, 2024 and December 31, 2023. The interest income from short-term loan receivables is $221,478 and $44,609 for the nine months ended September 30, 2024 and September 30, 2023, respectively, and the Company received $6,230 and $61 for interest income for the nine months ended September 30, 2024 and September 30, 2023, respectively. Interest September 30, December 31, Hanryu Times 0 % $ 1,010,003 $ 1,033,659 K-Commerce 0 % 77,107 76,586 FANTOO Entertainment 0 % 373,302 381,270 LA PRIMERA CAPITAL INVESTMENTS 0 % - 30,672 Jacob Asset 4.6 % 7,235,907 2,087,578 Ticket Land 4.6 % - 79,727 AMERIDGE CORPORATION 0.1 % - 100,408 KD Korea Corporation 5.0 % 227,342 - Total short-term loans $ 8,923,661 $ 3,789,900 For the nine month ended September 30, 2024, the Company wrote off $26,766, $75,988, and $9,936 of short-term loan receivables from LA PRIMERA CAPITAL INVESTMENT, Ticket Land, and AMERIDGE CORPORATION by the credit analysis of the Company. For the year ended December 31, 2023, the Company wrote off $193,889 of short-term loan receivables from PRT Korea since PRT Korea has not paid back it by the maturity date, June 13, 2024, and they have not provided any plan for the payment.

Prepaid Expenses and Other Rece

Prepaid Expenses and Other Receivables	9 Months Ended
Prepaid Expenses and Other Receivables	Sep. 30, 2024
Prepaid Expenses and Other Receivables [Abstract]
PREPAID EXPENSES AND OTHER RECEIVABLES	NOTE 4 — PREPAID EXPENSES AND OTHER RECEIVABLES The following table summarizes information with regard to prepaid expenses and other receivables as of September 30, 2024 and December 31, 2023. September 30, December 31, Jacob Asset, Co., Ltd 7,578,054 7,755,545 Orumplus Design, Co., Ltd — 25,593 Asia Model Festival Organization Foundation — 77,556 Others 303,680 44,341 Total prepaid expenses and other receivables $ 7,881,734 $ 7,903,035 For the nine months ended September 30, 2024, the Company wrote off $73,918 and $3,384 of prepaid expenses and other receivables from Asia Model Festival Organization Foundation and others due to the contract disputes and so on. For the year ended December 31, 2023, the Company wrote off $995,622 of prepaid expenses and other receivables from Top Eng Co., Ltd since they don’t make contracted business obligation to the Company more than 1 year and they have not provided the confirmed plan to the Company. The Company made a contract to purchase the right to buy the land and building located in Busan, Korea in 2023 from Jacob Asset, Co., Ltd and the Company paid $7,198,388 as the first payment. The Company expects that the title transfer will be done by the end of 2024.

Property Plant and Equipment

Property Plant and Equipment	9 Months Ended
Property Plant and Equipment	Sep. 30, 2024
Property Plant and Equipment [Abstract]
PROPERTY PLANT AND EQUIPMENT	NOTE 5 — PROPERTY PLANT AND EQUIPMENT Property plant and equipment consist of the following: September 30, December 31, Vehicles $ 93,560 $ 222,733 Fixtures 344,292 352,356 Equipment 691,247 707,437 1,129,099 1,282,526 Less accumulated depreciation (797,767 ) (653,341 ) Property plant and equipment, net $ 331,332 $ 629,185 Total depreciation expense for the nine months ended September 30, 2024 is $167,564 and for the nine months ended September 30, 2023 was $ 237,579. Depreciation expense is reflected in operating cost and expenses in the Condensed Consolidated statements of operations. The Company disposed one of Vehicles with $86,000 on February 28, 2024, and $24,134 was recorded as loss on disposal for the nine months ended September 30, 2024.

Lease

Lease	9 Months Ended
Lease	Sep. 30, 2024
Lease [Abstract]
LEASE	NOTE 6 — LEASE The Company uses approximately 19,200 square feet of office space at the Seoul Marina at no cost. Although no formal lease exists, the Company believes that ASC 842 accounting guidelines apply to determine the fair market value of ten years of free rent as well as recording rent expense on its Statement of Operations. Using the following variables: Annual lease cost — KRW 300,000,000 10-year present value calculation Assumed annual rent increase -4.96% Interest cost -3% 10-year bond rate on Korean Bonds 2.11% Exchange rate: KRW 1,188.5 the US dollar The Company determined that the present value of ten years of free rent amount to $2,775,512 which was recorded as a long-term ROU asset as of June 30, 2021. Since there were no liabilities associated with this asset since the Company is receiving free rent, the ROU assets are being amortized at a rate of approximately $23,000 per month over a ten year term. Since the Company had initially allocated a value of $2,935,658 to SMC Receivable and the Lien, the Company recorded an impairment of $158,278 on its Right-of-Use Asset for the year ended December 31, 2021. As of September 30, 2024 and December 31, 2023, the balances of the Right-of-Use-Asset was $1,687,544 and $1,918,966, respectively. Lease cost consists of approximately $182,896 and $190,285, for the nine months ended September 30, 2024 and September 30, 2023, respectively. The weighted average remaining lease term in years for operating leases is 7.5 years and the weighted average discount rate for operating leases is 3%.

Short-Term Loan Payables

Short-Term Loan Payables	9 Months Ended
Short-Term Loan Payables	Sep. 30, 2024
Short-Term Loan Payables [Abstract]
SHORT-TERM LOAN PAYABLES	NOTE 7 — SHORT-TERM LOAN PAYABLES The following table summarizes information with regard to short-term loan payables outstanding as of September 30, 2024 and December 31, 2023. Interest September 30, December 31, Short-term loan payables from Hyun Joo Kim and others maturing in January 2025 0 % 450,894 — Short-term loan payables from Junwoo Choi maturing in August 2025 0 % 189,451 193,889 Short-term loan payables from Kye Sook Kim and others maturing in September 2025 4.6 % 589,776 620,443 Short-term loan payables from Byoung Ik Choi maturing in September 2025 0 % 151,561 155,111 Short-term loan payables from Bong Sang Kim and others maturing in September 2025 0 % 227,342 232,666 Short-term loan payables from Se Kyoung Kim and others maturing in November 2024 4.6 % 378,903 387,778 Short-term loan payables from Seon Chan Kim and others maturing in May 2025 0 % 6,245 — Short-term loan payables from Fantoo Global maturing in September 2025 4.6 % 220,509 — Total short-term loan payables $ 2,214,681 $ 1,589,887 The Company recorded interest expense of $34,808 and $3,089 for the nine months ended September 30, 2024 and September 30, 2023, respectively, and the Company paid $0 and $2,616 for interest expense for the nine months ended September 30, 2024 and September 30, 2023, respectively.

Short-Term Loan Payables from R

Short-Term Loan Payables from Related Parties	9 Months Ended
Short-Term Loan Payables from Related Parties	Sep. 30, 2024
Short-Term Loan Payables from Related Parties [Abstract]
SHORT-TERM LOAN PAYABLES FROM RELATED PARTIES	NOTE 8 — SHORT-TERM LOAN PAYABLES FROM RELATED PARTIES The following table summarizes information with regard to short-term loan payables from related parties outstanding as of September 30, 2024 and December 31, 2023. Changhyuk Kang serve as directors of Hanryu Holdings. September 30, December 31, Short-term loan payables from Changhyuk Kang maturing in March and June 2025 15,438 — Total short-term loan payables from related parties $ 15,438 $ — These loan payables have no interest and financial covenants.

Bonds with Warrants

Bonds with Warrants	9 Months Ended
Bonds with Warrants	Sep. 30, 2024
Bonds with Warrants [Abstract]
BONDS WITH WARRANTS	NOTE 9 — BONDS WITH WARRANTS Bonds with warrants were issued by HBC from December 17, 2018 through July 2, 2021, and the terms and conditions of the remaining outstanding bonds with warrants as of September 30, 2024 and December 31, 2023 at the time of acquiring bonds and issuance of such bonds are set forth below. On July 2, 2021, HBC issued bonds with warrants for an aggregate purchase price of $3,795,867. The bond accrues no annual interest and mature on July 2, 2024. The warrants have an exercise price of $1.27 and can be exercised at any time after the issuance date, and expire the month preceding the maturity date of the bonds. The following two tables summarizes information with regard to bonds with warrant outstanding as of September 30, 2024 and December 31, 2023. Amount as of December 31, 2023 $ 3,489,995 Translation adjustment (79,871 ) Amount as of September 30, 2024 $ 3,410,124 Terms and conditions of bonds with warrants at the inception are as follows: No. Issue Date Maturity Amount Nominal Interest 11 7/2/2021 7/2/2024 $ 3,410,124 0 % 3 % Total $ 3,410,124 * Nominal interest rate and interest rate of return are waived by the separate agreements between the Company and the bondholders. Warrants There are no remaining outstanding warrants as of September 30, 2024 and December 31, 2023.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2024
Fair Value Measurements [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 10 — FAIR VALUE MEASUREMENTS Fair value has been determined on a basis consistent with the requirements of FASB ASC Topic 825, Financial Instruments Fair Value Measurement. Financial Items Measured at Fair Value on a Recurring Basis The carrying amounts reported in the Condensed Consolidated balance sheet for short-term financial instruments, including cash and cash equivalents, short-term loans, accounts receivable, prepaid expenses, short-term borrowings, accrued expense and other current liabilities due to the short maturities of these instruments. Assets and liabilities measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 are summarized in the table below. September 30, 2024 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Bonds with warrants $ — $ — $ 3,410,124 $ 3,410,124 December 31, 2023 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Bonds with warrants $ — $ — $ 3,489,995 $ 3,489,995 Financial Items Measured at Fair Value on a Nonrecurring Basis There are no financial assets or liabilities measured at fair value on a nonrecurring basis as of September 30, 2024 and December 31, 2023. Nonfinancial Items Measured at Fair Value on a Recurring Basis There are no nonfinancial assets measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023. Nonfinancial Items Measured at Fair Value on a Nonrecurring Basis The fair value of long-lived assets is measured whenever the carrying value of long-lived asset or asset group is not recoverable on an undiscounted cash flow basis. No impairment is recognized for long-lived assets as of September 30, 2024 and December 31, 2023.

Significant Non-Cash Transactio

Significant Non-Cash Transaction	9 Months Ended
Significant Non-Cash Transaction	Sep. 30, 2024
Significant Non-Cash Transaction [Abstract]
SIGNIFICANT NON-CASH TRANSACTION	NOTE 11 — SIGNIFICANT NON-CASH TRANSACTION The Company engaged in the following significant non-cash investing and financing activities for the nine months ended September 30, 2024 and September 30, 2023. September 30, September 30, Offsetting short-term loan payables by exercising warrants to purchase 309,430 common stock — (392,976 ) Total $ — $ (392,976 ) For the nine months ended September 30, 2023, conversion to equity by offsetting short-term loan payables was $392,976, which reflected 309,430 shares of common stock issued and a decrease of $392,976 in short-term loan payables.

Share Capital

Share Capital	9 Months Ended
Share Capital	Sep. 30, 2024
Share Capital [Abstract]
SHARE CAPITAL	NOTE 12 — SHARE CAPITAL As of September 30, 2024 and December 31, 2023, Hanryu Holdings’ total authorized capital stock is 110,000,000 shares, consisting of 100,000,000 shares of Common Stock, par value $0.001 per share, and 10,000,000 shares of undesignated preferred stock, par value $0.001 per share. On January 4, 2023, through March 8, 2023, warrants of $1,813,120 were exercised with an exercise price of $1.27 to purchase 1,427,653 shares of Common Stock by cash of $1,420,144 and debt conversion of $392,776. In February and March of 2023, the Company closed two private placements solely to accredited investors (as defined by Rule 501(a) of Regulation D of the Securities Act) pursuant to which the Company sold an aggregate amount of 240,000 shares of common stock for $10.00 per share, resulting in gross proceeds of $2,400,000. The purchase price of the common stock purchased in the private placements is subject to adjustment to the price of the common stock sold in the Company’s IPO, such that additional common stock shall be issued to the purchasers if the price of common stock sold in the IPO is less than $10.00 per share, or the purchasers shall return common stock to the Company if the price of the common stock sold in the IPO is greater than $10.00 per share, in each case resulting in the purchasers purchasing an aggregate amount of $2,400,000 of Company common stock at the IPO price. The offerings were exempt from registration under Section 4(a)(2) of the Securities Act. The subscription agreements pursuant to which the common stock was sold to accredited investors contain customary representations and warranties of the Company and the investors and customary indemnification rights and obligations of the parties. On March 24, 2023, warrants of $8,400 were exercised with an exercise price of $0.42 to purchase 20,000 shares of Common Stock by cash. On April 13, 2023, warrants of $420,000 were exercised with an exercise price of $0.42 to purchase 1,000,000 shares of Common stock by cash. On May 4, 2023, thorough May 8, 2023, warrants of $3,894,666 were exercised with an exercise price of $1.27 to purchase 3,066,666 shares of Common stock by cash. On May 31, 2023, the Company completed a private placement to solely to an accredited investor (as defined by Rule 501(a) of Regulation D of the Securities Act) pursuant to which the Company sold an aggregate amount of 760,000 shares of common stock for $10.00 per share, resulting in gross proceeds of $7,600,000. On July 31 2023, the Company consummated its initial public offering (the “IPO”) of 877,328 shares of Comon stock at a public offering price of $10.00 per share, generating gross proceeds of $8,773,280. Net proceeds from the IPO was approximately $7.7 million after deducting underwriting discounts and commissions and other offering expenses of approximately $1.1 million. The Company also granted the underwriters a 45-day option to purchase up to 131,599 additional shares (equal to 15% of the shares of Common stock sold in the IPO) to cover over-allotments, if any, which the underwriters did not exercise. In addition, the Company issued to the representative of the underwriters warrants to purchase a number of shares of Common stock equal to 5.0% of the aggregate number of Common stocks sold in the IPO (including shares of Common stock sold upon exercise of the over-allotment option). The representative’s warrants will be exercisable at any time and from time to time, in whole or in part, during the four-and-½-year period commencing six months from the date of commencement of the sales of the shares of Common stock in connection with the IPO, at an initial exercise price per share of $10.00 (equal to 125% of the initial public offering price per share of common stock). No representative’s warrants have been exercised as of September 30, 2024. As a result of the IPO, the total number of issued and outstanding shares of Common Stock issued increased from 45,416,942 to 52,808,589. Each holder of Common Stock is entitled to one vote for each share of Common Stock held at all meetings of stockholders.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 13 — COMMITMENTS AND CONTINGENCIES Other Leases On September 14, 2022, the Company entered into a one-year lease agreement which was subsequently extended to September 14, 2023, the Company extended its lease term to September 14, 2024, and the Company terminate the lease agreement at the maturity date. Upon entering into the lease, the Company paid a deposit, which is recorded as Other Assets in the Condensed Consolidated balance sheet in the amount of $0 as of September 30, 2024 and $116,333 as of December 31, 2023. The Company has a lease agreement for a vehicle which was initially made on September 16, 2021, and matures on September 21, 2025. The deposit paid on the beginning date of the lease agreement is recorded as other asset in the Condensed Consolidated balance sheet in the amount of $116,279 as of December 31, 2023. On December 28, 2023, the Company terminated the lease agreement prior the end of the term, as a result of which the deposit amount of $64,725 was returned to the Company and the remaining of $51,554 was paid as the penalties. Expenses related to these leases totaled approximately $90,312 and $118,820 for the nine months ended September 30, 2024 and September 30, 2023, respectively. Legal Matters The Company is subject to various legal proceedings and claims that arise in the ordinary course of business. In the opinion of management, the outcome of these matters will not have a material adverse effect on the Condensed Consolidated financial position or results of operations of the Company. For the nine months ended September 30, 2024, the Company two suspended legal cases as follows, and as of November 19, 2024, the result of the two cases are not certain. Case Number Opponent Case Summary Litigation Value Seoul South Federal Court ; 2023GADAN218067 Seoul Yacht Marina, Co., Ltd, and another Building Delivery $ 85,212 Seoul South Federal Court ; 2024GASO214189 Seoul Yacht Marina, Co., Ltd Compensation for damages $ 10,908

Related Party Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 14 — RELATED PARTY TRANSACTIONS The Company is affiliated with several individuals that have common ownership, and transacts a portion of its business with related parties. Short-Term Loan Payables September 30, December 31, Changhyuk Kang maturing in March and June 2025 $ 15,438 $ — Total 15,438 — — — Changhyuk Kang On April 1, 2024, the Company and Changhyk Kang, the director of the Company, entered into an interest-free, short-term borrowing agreement with a principal amount of $15,000, which matures on March 31, 2025. On June 4, 2024, the Company and Changhyk Kang, the director of the Company, entered into an interest-free, short-term borrowing agreement with a principal amount of $438, which matures on June 3, 2025. The following table shows Changhyuk Kang’s loan payables balance in detail: September 30, December 31, Loan payables maturing in March 31, 2025 $ 15,000 $ — Loan payables maturing in June 3, 2025 438 — Total 15,438 —

Disposal of Subsidiaries and Di

Disposal of Subsidiaries and Discontinued Operations	9 Months Ended
Disposal of Subsidiaries and Discontinued Operations	Sep. 30, 2024
Disposal of Subsidiaries and Discontinued Operations [Abstract]
DISPOSAL OF SUBSIDIARIES AND DISCONTINUED OPERATIONS	NOTE 15 — DISPOSAL OF SUBSIDIARIES AND DISCONTINUED OPERATIONS HBC sold owned whole shares of Hanryu Times with $153,265, Fantoo Entertainment with $76,604, and K-Commerce with $229,813 on December 28, 2023. The Company would not consolidate the three companies’ financials from that time, and the business from the three companies by that time became the discontinued operations of the Company. By selling shares, the Company didn’t recognize any loss on sale of investments, but the Company recorded $3,390,323 as Gain on disposal of subsidiary. On December 28, 2023, the Company calculated a gain regarding the divestiture of subsidiaries as follows: As of December 28, Considerations $ 459,682 The carrying amount of any noncontrolling interest 236,166 Net liabilities (2,694,475 ) Gain on disposal of subsidiaries $ 3,390,323 The financials of the three companies for the years ended December 31, 2023 are as follows. December 31, CURRENT ASSETS: $ 62,216 Cash and Cash Equivalents 1,996 Short-term loans 7,756 Accounts receivable, net of allowance 2,863 Non-trade receivables 33,850 Prepaid expenses and other receivables 15,751 PROPERTY PLANTAND EQUIPMENT, NET 98,682 Total Assets $ 160,898 CURRENT LIABILITIES: $ 2,855,373 Short-term borrowings 1,527,104 Account Payable 369,266 Non-trade accounts payable 941,968 Accrued expenses and other current liabilities 17,035 Total Liabilities $ 2,855,373 Total Stockholder’s Equity (Deficiency) $ (2,694,475 ) December 31, Sales 33,323 Cost of Revenue 10,506 Gross profit (Loss) $ 22,817 OPERATING EXPENSES: 1,235,907 OPERATING LOSS (1,213,090 ) OTHER INCOME(EXPENSE): (2,562 ) Net loss before taxes (1,215,652 ) Income tax expense — NET INCOME(LOSS) $ (1,215,652 )

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 16 — SUBSEQUENT EVENTS The Company has evaluated subsequent events that occurred subsequent to December 31, 2023 through November 19, 2024 at which the Condensed Consolidated financial statements were prepared. Bonds with Warrants The Company is in discussion with the holders to convert Bond with warrants in the aggregate amount of $3,410,124 that matured on July 2, 2024. Noncompliance with Minimum Bid Price Requirement On August 6, 2024,the Company received written notice from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) that the Company had been granted an additional 180 calendar days, or until February 3, 2025, to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Marketplace Rule 5450(a)(1), requiring a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”), based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and the Company’s written notice of its intention to cure the deficiency by effecting a reverse stock split, if necessary, during the second compliance period. As previously disclosed by the Company in a Current Report on Form 8-K filed on February 12, 2024, the Company received a notification letter from the Staff notifying the Company that, because the closing bid price for the Company’s common stock listed on Nasdaq was below $1.00 for 30 consecutive business days, the Company no longer met the Minimum Bid Price Requirement. The Company intends to monitor the closing bid price of its common stock between now and February 3, 2025 and consider its available options to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement. There can be no assurance that the Company will be able to regain compliance with The Nasdaq Capital Market’s continued listing requirements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (491,708)	$ (3,080,872)	$ (2,100,679)	$ (9,130,935)

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule10b 5-1 Arrangement Modified	false

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
Accounting Policies, by Policy (Policies)	Sep. 30, 2024
Significant Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The Condensed Consolidated financial statements of the Company include the financial statements of Hanryu Holdings, and its three wholly owned subsidiaries, HBC, FNS, and Marine Island in the third quarter of 2024 and in 2023, and its five wholly owned subsidiaries, HBC, FNS, Hanryu Times, Fantoo Entertainment, and Marine Island and majority-owned subsidiary (50.8%), K-Commerce in the third quarter of 2023. All significant intercompany transactions and balances have been eliminated in consolidation. Non-controlling interests are measured at their proportionate share of the acquiree’s identifiable net assets at the acquisition date. Changes in the Condensed Consolidated group’s interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. The ownership of non-controlling interests of K-Commerce, our significant Condensed Consolidated subsidiary as of September 30, 2023, was 49.2%. Since HBC sold owned whole shares of Hanryu Times, Fantoo Entertainment, and K-Commerce, on December 28, 2023, they are not Condensed Consolidated from December 28, 2023, and the controlling interests of K-Commerce become $0.
Foreign Currency	Foreign Currency The Company’s functional currency for all operations is the KRW. The Company’s accounting records are maintained in KRW, and translated into U.S. Dollars at year-end for the purposes of presentation. During the translation process, the year-end closing exchange rate is used for the valuation of all assets and liabilities, historical exchange rate is used to value stockholder’s equity, and the average exchange rate for the year is used for the calculation of the Condensed Consolidated financial statements. The net impact of the translation into the U.S. Dollar is included in the accumulated other comprehensive income (loss) of the Company’s Condensed Consolidated balance sheet as of September 30, 2024 and December 31, 2023. During the nine months ended September 30, 2024, there was a fluctuation in the exchange rates ranging from KRW 1,310.00/USD $1 to KRW 1,393.50/USD $1. Also, cash flows are also translated at average translation rates for the periods, therefore, amounts reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the Condensed Consolidated balance sheets
Use of Estimates	Use of Estimates The preparation of the Company’s Condensed Consolidated financial statements and related disclosures in conformity with U.S. Generally Accepted Accounting Principles (“ US GAAP
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. The Company maintains its cash in bank deposit accounts which, at times, may exceed the federal insurance limit, and the balance of deposit accounts of the Company doesn’t exceed the federal insurance limit as of September 30, 2024.
Accounts Receivable	Accounts Receivable Accounts receivables are recorded at the invoiced amount and do not bear interest. Amounts collected on trade accounts receivable are included in net cash provided by operating activities in the Condensed Consolidated statements of cash flows. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In establishing the required allowance, management considers historical losses adjusted to take into account current market conditions and customers’ financial condition in dispute, and the current receivables aging and current payment patterns. The Company reviews its allowance for doubtful accounts quarterly. Past-due balances over 90 days and over a specified amount are reviewed individually for collectability. Account balances are written off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company recorded the allowance of $0 on the accompanying Condensed Consolidated balance sheets as of September 30, 2024, and December 31, 2023. The Company does not have any off-balance-sheet credit exposure related to its customers.
Non-Trade Receivables	Non-Trade Receivables Non-trade receivables are recorded at the invoiced amount and do not bear interest. Amounts collected on non-trade receivables are included in net cash provided by operating activities in the Condensed Consolidated statements of cash flows. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its non-trade receivables portfolio. In establishing the required allowance, management considers historical losses adjusted to take into account current market conditions and customers’ financial condition in dispute, and the current receivables aging and current payment patterns. The Company reviews its allowance for doubtful accounts quarterly. Past-due balances over 90 days and over a specified amount are reviewed individually for collectability. Account balances are written off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company recorded the allowance of $0 and $0 on the accompanying Condensed Consolidated balance sheets as of September 30, 2024 and December 31, 2023 respectively. The Company does not have any off-balance-sheet credit exposure related to its customers.
Credit Losses	Credit Losses The Company maintains current receivable amounts with most of its customers and vendors. The Company regularly monitors and assesses its risk of not collecting amounts owed by them. This evaluation is based upon an analysis of current and past due amounts, along with relevant history and facts particular to the customer. The Company records its allowance for credit losses based on the results of this analysis. The analysis requires the Company to make significant estimates and as such, changes in facts and circumstances could result in material changes in the allowance for credit losses. The Company considers as past due any receivable balance not collected within its contractual terms. The Company wrote off $112,690 of short-term loan receivables and $77,302 of prepaid expenses and other receivable as of September 30, 2024.
Revenue Recognition	Revenue Recognition The Company anticipates generating revenues from (i) FANTOO platform through advertising, direct sales, and user to user commissions, and (ii) other businesses. Revenue billed or collected in advance will be recorded as deferred revenue until the event occurs or until applicable performance obligations are satisfied. Revenue is recognized when the Company transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods and services. In this regard, revenue is recognized when: (i) the parties to the contract have approved the contract (in writing, orally, or in accordance with other customary business practices) and are committed to perform their respective obligations; (ii) the entity can identify each party’s rights regarding the goods or services to be transferred; (iii) the entity can identify the payment terms for the goods or services to be transferred; (iv) the contract has commercial substance (that is, the risk, timing, or amount of the entity’s future cash flows is expected to change as a result of the contract); and (v) it is probable that the entity will collect substantially all of the consideration to which it will be entitled in exchange for the goods or services that will be transferred to the customer. Transaction prices are based on the amount of consideration to which we expect to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties, if any. We consider the explicit terms of the revenue contract, which are typically written and executed by the parties, our customary business practices, the nature, timing, and the amount of consideration promised by a customer in connection with determining the transaction price for our revenue arrangements. Refunds and sales returns historically have not been material. For the nine months ended September 30, 2024 and September 30, 2023, the Company recognized product sales revenue amounting to $0 and $71,521, respectively. Revenue is derived at the point in time when merchandise is sold and shipped or delivered to customers. Merchandise sales are fulfilled with inventory sourced from our owned inventory. Although the Company does not currently have any inventory as of the balance sheet date, the Company, from time to time, may hold products in inventory for an abbreviated amount of time before shipping such inventory and recognizing the corresponding revenue. Revenue is recognized when control of the product passes to the customer, typically at the date of delivery of the merchandise to the customer, or the date a service is provided and is recognized in an amount that reflects the expected consideration to be received in exchange for such goods or services. As such, customer orders are recorded as unearned revenue prior to delivery of products or services ordered. If the Company ships high volumes of packages through multiple carriers, the Company will use estimates to determine which shipments are to be delivered and, therefore, recognized as revenue at the end of the period. Delivery date estimates are based on average shipping transit times, which are calculated using the following factors: (i) the type of shipping carrier (as carriers have different in-transit times); (ii) the fulfilment source; (iii) the delivery destination; and (iv) actual transit time experience, which shows that delivery date is typically one to eight business days from the date of shipment. The Company reviews and updates our estimates on a quarterly basis based on our actual transit time experience. However, actual shipping times may differ from our estimates. Generally, the Company requires authorization from credit cards or other payment vendors whose services the Company offers to customers or verification of receipt of payment, before the Company ships products to purchasers. The Company generally receives payments from our customers before our payments to our suppliers are due. The Company does not recognize assets associated with costs to obtain or fulfill a contract with a customer. Shipping and handling is considered a fulfillment activity, as it takes place prior to the customer obtaining control of the merchandise, and fees charged to customers are included in net revenue upon completion of our performance obligations. The Company presents revenue net of sales taxes, discounts, and expected refunds. Merchandise sales contracts include terms that could cause variability in the transaction price for items such as discounts, credits, or sales returns. Accordingly, the transaction price for product sales includes estimates of variable consideration to the extent it is probable that a significant reversal of revenue recognized will not occur. At the time of sale, the Company estimates a sales return liability for the variable consideration based on historical experience, which is recorded within “Accrued Liabilities” in the Condensed Consolidated balance sheet. The Company records an allowance for returns based on current period revenues and historical returns experience. The Company analyzes actual historical returns, current economic trends and changes in order volume, and acceptance of our products when evaluating the adequacy of the sales returns allowance in any accounting period. The Company evaluates the criteria outlined in the Financial Accounting Standards Board (“ FASB ASC Principal versus Agent Considerations
Cost of Revenue	Cost of Revenue Cost of revenue is recognized at the time the products or services are delivered to the customers. Cost of revenue includes all direct labor, material, shipping and handling cost and other direct costs such as travel, postage, telecommunication, vehicle charge, printing, and training, and allocated indirect costs related to revenue such as supplies, utilities, office equipment rental, and computers.
Property Plant and Equipment	Property Plant and Equipment Property plant and equipment are carried at cost (see Note 5). Depreciation expense is provided over the estimated useful lives of the assets using the straight line method for vehicles and the declining balance method for fixtures and equipment. A summary of the estimated useful lives is as follows: Classification Estimated Vehicles 5 Fixtures 5 Equipment 5 Maintenance and repairs are charged to expense as incurred, while any additions or improvements are capitalized. The Company evaluates property and equipment for impairment when facts and circumstances indicate that the carrying values of such assets may not be recoverable. When evaluating for impairment, the Company first compare the carrying value of the asset to the asset’s estimated future undiscounted cash flows. If the estimated undiscounted future cash flows are less than the carrying value of the asset, the Company determines if there is an impairment loss by comparing the carrying value of the asset to the asset’s estimated fair value and recognizes an impairment charge when the asset’s carrying value exceeds its estimated fair value. The fair value of the asset is estimated using a discounted cash flow model based on forecasted future revenues and operating costs, using internal projections. There were no significant property and equipment asset impairment charges recorded during the nine months ended September 30, 2024 and September 30, 2023.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company assesses the recoverability of long-lived assets whenever events or changes in circumstances indicate that their carrying value may not be recoverable. If the cost basis of a long-lived asset is greater than the projected future undiscounted net cash flows from such asset, an impairment loss is recognized. Impairment losses are calculated as the difference between the cost basis of an asset and its estimated fair value. There were no significant long-lived assets impairment charges recorded during the nine months ended September 30, 2024 and September 30, 2023.
Concentrations of Credit Risk	Concentrations of Credit Risk Cash and cash equivalents are financial instruments that potentially subject the Company to concentrations of credit risk. The Company may maintain deposits in financial institutions in excess of government insured limits. The Company believes that it is not exposed to significant credit risk as its deposits are held at financial institutions that management believes to be of high credit quality and the Company has not experienced any losses on these deposits. The Company is also potentially subject to concentrations of credit risk in its accounts receivable and loans. Credit risk with respect to receivables is limited due to the number of companies comprising the Company’s customer base. Credit risk with respect to loans is limited since they are made principally related to the collaborative activities between the Company and loan holders. Since the Company is directly affected by the financial condition of its customers and loan holders, management carefully watch if any significant credit risks exist, and they will make actions to remove or mitigate such risks if there are any. For the nine months ended September 30, 2024 and September 30, 2023, over 10% of the revenues are from two customers and one customer, respectively, but there are no receivable balances from them. Also, over 10% of the account receivable for the year ended December 31, 2023 is from Hanryu Times, which was the affiliated company by December 28, 2023, and Hanryu Times and the Company already agreed to the payment plan that Hanryu Times would pay back all by the end of December 31, 2024. Therefore, as of September 30, 2024 and December 31, 2023, the Company believes that the credit risk for the account receivables is manageable and controllable. Generally, the Company does not require collateral or other securities to support its accounts receivable and loans.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of Company’s financial instruments, consisting of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, debt receivables, debt payables approximate their recorded amounts due to their relatively short settlement terms.
Fair Value Measurements	Fair Value Measurements The Company applies a three-level valuation hierarchy for fair value measurements. The categorization of assets and liabilities within the valuation hierarchy is based on the lowest level of input that is significant to the measurement of fair value. Level 1 Inputs to the valuation methodology utilize unadjusted quoted market prices in active markets for identical assets and liabilities. Level 2 Inputs to the valuation methodology are other observable inputs, including quoted market prices for similar assets and liabilities, quoted prices for identical and similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3 Inputs to the valuation methodology are unobservable inputs based on management’s best estimate of the inputs that market participants would use in pricing the asset or liability at the measurement date, including assumptions about risk. A change to the level of an asset or liability within the fair value hierarchy is determined at the end of a reporting period.
Investments	Investments The Company’s investments are carried at historical cost. As of September 30, 2024 and December 31, 2023, there is no balance of investments.
Earning (Loss) Per Share	Earning (Loss) Per Share Basic earning (loss) per share is computed by dividing the income or loss by the weighted-average number of outstanding shares of Common Stock for the applicable period. Diluted earning (loss) per share is computed by dividing the income or loss by the weighted-average number of outstanding shares of Common Stock for the applicable period, including the dilutive effect of Common Stock equivalents. Potentially dilutive Common Stock equivalents primarily consist of warrants issued in connection with financings. For purposes of computing both basic and diluted earning (loss) per share, income or loss shall exclude the income or loss attributable to the non-controlling interest. The Company calculates net loss per share in accordance with FASB ASC Topic 260, Earnings Per Share
Income Taxes	Income Taxes Deferred income tax assets and liabilities are determined based on differences between the financial statement reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws in effect when the differences are expected to reverse. The measurement of deferred income tax assets is reduced, if necessary, by a valuation allowance for any tax benefits which are not expected to be realized. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in the period that such tax rate changes are enacted. We have determined that all of our deferred tax benefits are not likely to be realized due to our historical and expected future taxable losses. Accordingly, we have maintained a full valuation allowance. The Company applies the provisions of FASB ASC Topic 740-10, Uncertainty in Income Taxes Income taxes on the Company’s taxable income from operating activities are subject to various tax laws and determinations of the authority in the ROK. Regarding taxes payable in the ROK, if a certain portion of taxable income is not used for investments or for increases in wages or dividends, in accordance with the Tax System for Recirculation of Corporate Income, the Company is liable to pay additional income tax calculated based on Korean tax law. The Company assesses uncertainty over a tax treatment. When the Company concludes it is not probable that the taxation authority will accept an uncertain tax treatment, the Company will reflect the effect of uncertainty for each uncertain tax treatment by using either of the following methods, depending on which method the Company expects to better predict the resolution of the uncertainty; ● The most likely amount: The single most likely amount in a range of possible outcomes. ● The expected value: The sum of the probability-weighted amounts in a range of possible outcomes.
Lease	Lease Under ASC 842, the determination of whether an arrangement is a lease is made at the lease’s inception and a contract is (or contains) a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is defined under the standard as having both the right to obtain substantially all of the economic benefits from use of the asset and the right to direct the use of the asset. Management only reassesses its determination if the terms and conditions of the contract are changed. Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities, and operating lease liabilities in our balance sheets. Finance leases are included in property and equipment, other current liabilities, and other long-term liabilities in our balance sheets. ROU assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The Company uses the implicit rate when it is readily determinable. Since most of the Company’s leases do not provide an implicit rate, to determine the present value of lease payments, management uses the Company’s incremental borrowing rate based on the information available at lease commencement. Operating lease ROU assets also includes any lease payments made and excludes any lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately with amounts allocated to the lease and non-lease components based on stand-alone prices or for which it has made an accounting policy election to account for these as a single lease component. For certain equipment leases, like vehicles, the Company accounts for the lease and non-lease components as a single lease. Refer to Note 6 for additional disclosures required as a result of the adoption of this new standard.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures In August 2020, the FASB issued ASU No. 2020-06, Debt Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging Contracts in Entity s Own Equity (Subtopic 815-40) Accounting for Convertible Instruments and Contracts in an Entity s Own Equity ASU 2020-06 In November 2019, the FASB issued ASU 2019-10, “ Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates

Significant Accounting Polici_2

Significant Accounting Policies (Tables)	9 Months Ended
Significant Accounting Policies (Tables)	Sep. 30, 2024
Significant Accounting Policies [Abstract]
Schedule of Property Plant and Equipment Estimated Useful Lives	A summary of the estimated useful lives is as follows: Classification Estimated Vehicles 5 Fixtures 5 Equipment 5

Short-Term Loan Receivables (Ta

Short-Term Loan Receivables (Tables)	9 Months Ended
Short-Term Loan Receivables (Tables)	Sep. 30, 2024
Short-Term Loan Receivables [Abstract]
Schedule of Short Term Loan Receivables	The following table summarizes information with regard to short-term loan receivables outstanding as of September 30, 2024 and December 31, 2023. Interest September 30, December 31, Hanryu Times 0 % $ 1,010,003 $ 1,033,659 K-Commerce 0 % 77,107 76,586 FANTOO Entertainment 0 % 373,302 381,270 LA PRIMERA CAPITAL INVESTMENTS 0 % - 30,672 Jacob Asset 4.6 % 7,235,907 2,087,578 Ticket Land 4.6 % - 79,727 AMERIDGE CORPORATION 0.1 % - 100,408 KD Korea Corporation 5.0 % 227,342 - Total short-term loans $ 8,923,661 $ 3,789,900

Prepaid Expenses and Other Re_2

Prepaid Expenses and Other Receivables (Tables)	9 Months Ended
Prepaid Expenses and Other Receivables (Tables)	Sep. 30, 2024
Prepaid Expenses and Other Receivables [Abstract]
Schedule of Information with Regard to Prepaid Expenses and Other Receivables	The following table summarizes information with regard to prepaid expenses and other receivables as of September 30, 2024 and December 31, 2023. September 30, December 31, Jacob Asset, Co., Ltd 7,578,054 7,755,545 Orumplus Design, Co., Ltd — 25,593 Asia Model Festival Organization Foundation — 77,556 Others 303,680 44,341 Total prepaid expenses and other receivables $ 7,881,734 $ 7,903,035

Property Plant and Equipment (T

Property Plant and Equipment (Tables)	9 Months Ended
Property Plant and Equipment (Tables)	Sep. 30, 2024
Property Plant and Equipment [Abstract]
Schedule of Property Plant and Equipment	Property plant and equipment consist of the following: September 30, December 31, Vehicles $ 93,560 $ 222,733 Fixtures 344,292 352,356 Equipment 691,247 707,437 1,129,099 1,282,526 Less accumulated depreciation (797,767 ) (653,341 ) Property plant and equipment, net $ 331,332 $ 629,185

Short-Term Loan Payables (Table

Short-Term Loan Payables (Tables)	9 Months Ended
Short-Term Loan Payables (Tables)	Sep. 30, 2024
Short-Term Loan Payables [Abstract]
Schedule of Short-Term Loan Payables Outstanding	The following table summarizes information with regard to short-term loan payables outstanding as of September 30, 2024 and December 31, 2023. Interest September 30, December 31, Short-term loan payables from Hyun Joo Kim and others maturing in January 2025 0 % 450,894 — Short-term loan payables from Junwoo Choi maturing in August 2025 0 % 189,451 193,889 Short-term loan payables from Kye Sook Kim and others maturing in September 2025 4.6 % 589,776 620,443 Short-term loan payables from Byoung Ik Choi maturing in September 2025 0 % 151,561 155,111 Short-term loan payables from Bong Sang Kim and others maturing in September 2025 0 % 227,342 232,666 Short-term loan payables from Se Kyoung Kim and others maturing in November 2024 4.6 % 378,903 387,778 Short-term loan payables from Seon Chan Kim and others maturing in May 2025 0 % 6,245 — Short-term loan payables from Fantoo Global maturing in September 2025 4.6 % 220,509 — Total short-term loan payables $ 2,214,681 $ 1,589,887

Short-Term Loan Payables from_2

Short-Term Loan Payables from Related Parties (Tables)	9 Months Ended
Short-Term Loan Payables from Related Parties (Tables)	Sep. 30, 2024
Short-Term Loan Payables from Related Parties [Abstract]
Schedule of Short-Term Loan Payables from Related Parties Outstanding	The following table summarizes information with regard to short-term loan payables from related parties outstanding as of September 30, 2024 and December 31, 2023. Changhyuk Kang serve as directors of Hanryu Holdings. September 30, December 31, Short-term loan payables from Changhyuk Kang maturing in March and June 2025 15,438 — Total short-term loan payables from related parties $ 15,438 $ —

Bonds with Warrants (Tables)

Bonds with Warrants (Tables)	9 Months Ended
Bonds with Warrants (Tables)	Sep. 30, 2024
Bonds with Warrants [Abstract]
Schedule of Bonds with Warrant Outstanding	The following two tables summarizes information with regard to bonds with warrant outstanding as of September 30, 2024 and December 31, 2023. Amount as of December 31, 2023 $ 3,489,995 Translation adjustment (79,871 ) Amount as of September 30, 2024 $ 3,410,124
Schedule of Terms and Conditions of Bonds with Warrants	Terms and conditions of bonds with warrants at the inception are as follows: No. Issue Date Maturity Amount Nominal Interest 11 7/2/2021 7/2/2024 $ 3,410,124 0 % 3 % Total $ 3,410,124

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2024
Fair Value Measurements [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	Assets and liabilities measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 are summarized in the table below. September 30, 2024 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Bonds with warrants $ — $ — $ 3,410,124 $ 3,410,124 December 31, 2023 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Bonds with warrants $ — $ — $ 3,489,995 $ 3,489,995

Significant Non-Cash Transact_2

Significant Non-Cash Transaction (Tables)	9 Months Ended
Significant Non-Cash Transaction (Tables)	Sep. 30, 2024
Significant Non-Cash Transaction [Abstract]
Schedule of Significant Non-Cash Investing and Financing Activities	The Company engaged in the following significant non-cash investing and financing activities for the nine months ended September 30, 2024 and September 30, 2023. September 30, September 30, Offsetting short-term loan payables by exercising warrants to purchase 309,430 common stock — (392,976 ) Total $ — $ (392,976 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Sep. 30, 2024
Commitments and Contingencies [Abstract]
Schedule of Suspended Legal Cases	For the nine months ended September 30, 2024, the Company two suspended legal cases as follows, and as of November 19, 2024, the result of the two cases are not certain. Case Number Opponent Case Summary Litigation Value Seoul South Federal Court ; 2023GADAN218067 Seoul Yacht Marina, Co., Ltd, and another Building Delivery $ 85,212 Seoul South Federal Court ; 2024GASO214189 Seoul Yacht Marina, Co., Ltd Compensation for damages $ 10,908

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
Related Party Transactions (Tables)	Sep. 30, 2024
Related Party Transactions [Abstract]
Schedule of Short-Term Loan Payables	Short-Term Loan Payables September 30, December 31, Changhyuk Kang maturing in March and June 2025 $ 15,438 $ — Total 15,438 — — —
Schedule of Loan Payables	The following table shows Changhyuk Kang’s loan payables balance in detail: September 30, December 31, Loan payables maturing in March 31, 2025 $ 15,000 $ — Loan payables maturing in June 3, 2025 438 — Total 15,438 —

Disposal of Subsidiaries and _2

Disposal of Subsidiaries and Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2024
Disposal of Subsidiaries and Discontinued Operations [Abstract]
Schedule of Disposal of Subsidiaries and Discontinued Operations	On December 28, 2023, the Company calculated a gain regarding the divestiture of subsidiaries as follows: As of December 28, Considerations $ 459,682 The carrying amount of any noncontrolling interest 236,166 Net liabilities (2,694,475 ) Gain on disposal of subsidiaries $ 3,390,323 December 31, CURRENT ASSETS: $ 62,216 Cash and Cash Equivalents 1,996 Short-term loans 7,756 Accounts receivable, net of allowance 2,863 Non-trade receivables 33,850 Prepaid expenses and other receivables 15,751 PROPERTY PLANTAND EQUIPMENT, NET 98,682 Total Assets $ 160,898 CURRENT LIABILITIES: $ 2,855,373 Short-term borrowings 1,527,104 Account Payable 369,266 Non-trade accounts payable 941,968 Accrued expenses and other current liabilities 17,035 Total Liabilities $ 2,855,373 Total Stockholder’s Equity (Deficiency) $ (2,694,475 ) December 31, Sales 33,323 Cost of Revenue 10,506 Gross profit (Loss) $ 22,817 OPERATING EXPENSES: 1,235,907 OPERATING LOSS (1,213,090 ) OTHER INCOME(EXPENSE): (2,562 ) Net loss before taxes (1,215,652 ) Income tax expense — NET INCOME(LOSS) $ (1,215,652 )

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Details)			3 Months Ended			9 Months Ended
Nature of Operations and Basis of Presentation (Details)	Oct. 03, 2021 USD ($)	Jun. 30, 2021 KRW (₩) ft²	Sep. 30, 2024 USD ($) ft² $ / shares shares	Sep. 30, 2023 USD ($)	May 10, 2022 $ / shares shares	Sep. 30, 2024 USD ($) ft² $ / shares shares	Sep. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($) $ / shares shares	Jun. 30, 2023 USD ($)	Apr. 13, 2023 shares	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 03, 2021 KRW (₩)	Mar. 31, 2021 $ / shares shares
Nature of Operations and Basis of Presentation [Line Items]
Common stock, shares issued			52,808,589			52,808,589				52,808,589
Common stock per share \| $ / shares			$ 0.001			$ 0.001				$ 0.001
Common shares issued and outstanding					100%
Outstanding share percentage	50.80%
Short-term loan	$ 270,530														₩ 309,600,000
Voting right percentage					100%
Restricted shares of the company’s common stock					42,565,786
Warrants outstanding percentage					100%
Restricted shares of common stock					10,046,666
Stockholders equity deficit \| $			$ 10,615,774	$ 13,062,834		$ 10,615,774	$ 13,062,834	$ 10,566,638	$ 11,478,689	$ 13,068,465	$ 8,911,515		$ (250,392)	$ (1,340,515)
Working capital \| $			8,355,991			8,355,991				$ 10,140,579
Losses from operations \| $			$ (371,268)	$ (2,959,631)		$ (2,109,827)	$ (8,552,478)
RnDeep Acquisition [Member]
Nature of Operations and Basis of Presentation [Line Items]
Common stock, shares issued																4,150,000
Common stock per share \| $ / shares																$ 0.45
Marine Island Acquisition [Member]
Nature of Operations and Basis of Presentation [Line Items]
Office space \| ft²		19,200	19,200			19,200
Common shares issued and outstanding	100%
Korean Won [Member]
Nature of Operations and Basis of Presentation [Line Items]
Purchase price \| ₩		₩ 3,500,000,000
Changhyuk Kang [Member]
Nature of Operations and Basis of Presentation [Line Items]
Ownership percentage	100%														100%
HBC [Member]
Nature of Operations and Basis of Presentation [Line Items]
Ownership percentage					100%
Common Stock [Member]
Nature of Operations and Basis of Presentation [Line Items]
Common stock, shares issued												1,000,000
Common Stock [Member] \| HBC Shareholders [Member]
Nature of Operations and Basis of Presentation [Line Items]
Common stock per share \| $ / shares					$ 0.001

Significant Accounting Polici_3

Significant Accounting Policies (Details)		9 Months Ended
Significant Accounting Policies (Details)	Dec. 28, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Significant Accounting Policies [Line Items]
Controlling interests	$ 0
Allowance for accounts receivables		$ 0		$ 0
Short term receivables		112,690
Prepaid expenses and other receivable		77,302
Revenue		0	$ 71,521
Hanryu Holdings Subsidiaries [Member]
Significant Accounting Policies [Line Items]
Majority-owned subsidiary percentage			50.80%
K-Commerce [Member]
Significant Accounting Policies [Line Items]
Ownership percentage			49.20%
Advertising revenue [Member]
Significant Accounting Policies [Line Items]
Revenue		198	$ 892,586
Non-Trade Receivables [Member]
Significant Accounting Policies [Line Items]
Allowance for accounts receivables		$ 0		$ 0
KRW [Member]
Significant Accounting Policies [Line Items]
Exchange rates		1,310
KRW [Member] \| Maximum [Member]
Significant Accounting Policies [Line Items]
Exchange rates		1,393.5
USD [Member]
Significant Accounting Policies [Line Items]
Exchange rates		1
USD [Member] \| Minimum [Member]
Significant Accounting Policies [Line Items]
Exchange rates		1

Significant Accounting Polici_4

Significant Accounting Policies (Details) - Schedule of Property Plant and Equipment Estimated Useful Lives	Sep. 30, 2024
Vehicles [Member]
Schedule of Property Plant and Equipment Estimated Useful Lives [Line Items]
Property and equipment estimated useful lives	5 years
Fixtures [Member]
Schedule of Property Plant and Equipment Estimated Useful Lives [Line Items]
Property and equipment estimated useful lives	5 years
Equipment [Member]
Schedule of Property Plant and Equipment Estimated Useful Lives [Line Items]
Property and equipment estimated useful lives	5 years

Short-Term Loan Receivables (De

Short-Term Loan Receivables (Details) - USD ($)	9 Months Ended		12 Months Ended
Short-Term Loan Receivables (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Short-Term Loan Receivables [Line Items]
Short-term loan receivables	$ 221,478	$ 44,609
Interest income	6,230	$ 61
Short-term loan receivables wrote off	8,923,661		$ 3,789,900
LA PRIMERA CAPITAL INVESTMENT [Member]
Short-Term Loan Receivables [Line Items]
Short-term loan receivables wrote off	26,766
Ticket Land [Member]
Short-Term Loan Receivables [Line Items]
Short-term loan receivables wrote off	75,988
AMERIDGE CORPORATION [Member]
Short-Term Loan Receivables [Line Items]
Short-term loan receivables wrote off	$ 9,936
PRT Korea [Member]
Short-Term Loan Receivables [Line Items]
Short-term loan receivables wrote off			$ 193,889
Maturity date			Jun. 13, 2024

Short-Term Loan Receivables (_2

Short-Term Loan Receivables (Details) - Schedule of Short Term Loan Receivables - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Schedule of Short Term Loan Receivables [Line Items]
Total short-term loans	$ 8,923,661	$ 3,789,900
Hanryu Times [Member]
Schedule of Short Term Loan Receivables [Line Items]
Interest Rate	0%
Total short-term loans	$ 1,010,003	1,033,659
K-Commerce [Member]
Schedule of Short Term Loan Receivables [Line Items]
Interest Rate	0%
Total short-term loans	$ 77,107	76,586
FANTOO Entertainment [Member]
Schedule of Short Term Loan Receivables [Line Items]
Interest Rate	0%
Total short-term loans	$ 373,302	381,270
LA PRIMERA CAPITAL INVESTMENTS [Member]
Schedule of Short Term Loan Receivables [Line Items]
Interest Rate	0%
Total short-term loans		30,672
Jacob Asset [Member]
Schedule of Short Term Loan Receivables [Line Items]
Interest Rate	4.60%
Total short-term loans	$ 7,235,907	2,087,578
Ticket Land [Member]
Schedule of Short Term Loan Receivables [Line Items]
Interest Rate	4.60%
Total short-term loans		79,727
AMERIDGE CORPORATION [Member]
Schedule of Short Term Loan Receivables [Line Items]
Interest Rate	0.10%
Total short-term loans		100,408
KD Korea Corporation [Member]
Schedule of Short Term Loan Receivables [Line Items]
Interest Rate	5%
Total short-term loans	$ 227,342

Prepaid Expenses and Other Re_3

Prepaid Expenses and Other Receivables (Details) - USD ($)	9 Months Ended	12 Months Ended
Prepaid Expenses and Other Receivables (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Prepaid Expenses and Other Receivables [Line Items]
Prepaid expenses	$ 73,918
Other receivables	3,384
Prepaid expense and other receivables	77,302
Top Eng, Co., Ltd. [Member]
Prepaid Expenses and Other Receivables [Line Items]
Prepaid expense and other receivables		$ 995,622
Contractual obligation term		1 year
Jacob Asset, Co., ,Ltd [Member]
Prepaid Expenses and Other Receivables [Line Items]
Amount of first payment	$ 7,198,388

Prepaid Expenses and Other Re_4

Prepaid Expenses and Other Receivables (Details) - Schedule of Information with Regard to Prepaid Expenses and Other Receivables - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Schedule of Information with Regard to Prepaid Expenses and Other Receivables [ Line Items]
Total prepaid expenses and other receivables	$ 7,881,734	$ 7,903,035
Jacob Asset, Co.Ltd [Member]
Schedule of Information with Regard to Prepaid Expenses and Other Receivables [ Line Items]
Total prepaid expenses and other receivables	7,578,054	7,755,545
Orumplus Design, Co., Ltd [Member]
Schedule of Information with Regard to Prepaid Expenses and Other Receivables [ Line Items]
Total prepaid expenses and other receivables		25,593
Asia Model Festival Organization Foundation [Member]
Schedule of Information with Regard to Prepaid Expenses and Other Receivables [ Line Items]
Total prepaid expenses and other receivables		77,556
Others [Member]
Schedule of Information with Regard to Prepaid Expenses and Other Receivables [ Line Items]
Total prepaid expenses and other receivables	$ 303,680	$ 44,341

Property Plant and Equipment (D

Property Plant and Equipment (Details) - USD ($)		9 Months Ended
Property Plant and Equipment (Details) - USD ($)	Feb. 28, 2024	Sep. 30, 2024	Sep. 30, 2023
Property Plant and Equipment [Line Items]
Depreciation expense		$ 167,564	$ 237,579
Loss on disposal		$ 24,134
Vehicles [Member]
Property Plant and Equipment [Line Items]
Loss on disposal	$ 86,000

Property Plant and Equipment _2

Property Plant and Equipment (Details) - Schedule of Property Plant and Equipment - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Schedule of Property Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 1,129,099	$ 1,282,526
Less accumulated depreciation	(797,767)	(653,341)
Property plant and equipment, net	331,332	629,185
Vehicles [Member]
Schedule of Property Plant and Equipment [Line Items]
Property plant and equipment, gross	93,560	222,733
Fixtures [Member]
Schedule of Property Plant and Equipment [Line Items]
Property plant and equipment, gross	344,292	352,356
Equipment [Member]
Schedule of Property Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 691,247	$ 707,437

Lease (Details)

Lease (Details)	9 Months Ended			12 Months Ended
Lease (Details)	Sep. 30, 2024 USD ($) ft²	Sep. 30, 2024 KPW (₩)	Sep. 30, 2023 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2021 USD ($) ft²
Lease [Line Items]
Lease cost (in Won) \| ₩		₩ 300,000,000
Present value calculation	10 years	10 years
Annual rent increase, percentage	(4.96%)	(4.96%)
Interest cost	(3.00%)
Bond period	10 years	10 years
Korean bonds percentage	2.11%
Rent amount						$ 2,775,512
Amortization of right-of-use asset	$ 23,000
Initially allocated value				$ 2,935,658
Impairment lease				$ 158,278
Right-of-use-asset	1,687,544				$ 1,918,966
Operating lease cost	$ 182,896		$ 190,285
Weighted average remaining lease term	7 years 6 months
Average discount rate	3%
Korean Won [Member]
Lease [Line Items]
Exchange rate	1,188.5
Marine Island Acquisition [Member]
Lease [Line Items]
Office space (in Square Feet) \| ft²	19,200					19,200

Short-Term Loan Payables (Detai

Short-Term Loan Payables (Details) - USD ($)	9 Months Ended
Short-Term Loan Payables (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Short-Term Loan Payables [Line Items]
Interest expense	$ 0	$ 2,616
Short-term loan payables [Member]
Short-Term Loan Payables [Line Items]
Interest expense	$ 34,808	$ 3,089

Short-Term Loan Payables (Det_2

Short-Term Loan Payables (Details) - Schedule of Short-Term Loan Payables Outstanding - USD ($)	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Short-Term Debt [Line Items]
Total short-term loan payables	$ 2,214,681	$ 1,589,887
Short-term loan payables from Hyun Joo Kim and others maturing in January 2025 [Member]
Short-Term Debt [Line Items]
Interest Rate	0%
Total short-term loan payables	$ 450,894
Short-term loan payables from Junwoo Choi maturing in August 2025 [Member]
Short-Term Debt [Line Items]
Interest Rate	0%
Total short-term loan payables	$ 189,451	193,889
Short-term loan payables from Kye Sook Kim and others maturing in September 2025 [Member]
Short-Term Debt [Line Items]
Interest Rate	4.60%
Total short-term loan payables	$ 589,776	620,443
Short-term loan payables from Byoung Ik Choi maturing in September 2025 [Member]
Short-Term Debt [Line Items]
Interest Rate	0%
Total short-term loan payables	$ 151,561	155,111
Short-term loan payables from Bong Sang Kim and others maturing in September 2025 [Member]
Short-Term Debt [Line Items]
Interest Rate	0%
Total short-term loan payables	$ 227,342	232,666
Short-term loan payables from Se Kyoung Kim and others maturing in November 2024 [Member]
Short-Term Debt [Line Items]
Interest Rate	4.60%
Total short-term loan payables	$ 378,903	387,778
Short-term loan payables from Seon Chan Kim and others maturing in May 2025 [Member]
Short-Term Debt [Line Items]
Interest Rate	0%
Total short-term loan payables	$ 6,245
Short-term loan payables from Fantoo Global maturing in September 2025 [Member]
Short-Term Debt [Line Items]
Interest Rate	4.60%
Total short-term loan payables	$ 220,509

Short-Term Loan Payables from_3

Short-Term Loan Payables from Related Parties (Details) - Schedule of Short-Term Loan Payables from Related Parties Outstanding - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Short-Term Debt [Line Items]
Total short-term loan payables from related parties	$ 15,438
March and June 2025 [Member] \| Changhyuk Kang [Member]
Short-Term Debt [Line Items]
Total short-term loan payables from related parties	$ 15,438

Bonds with Warrants (Details)

Bonds with Warrants (Details)	Jul. 02, 2021 USD ($) $ / shares
Bonds with Warrants [Line Items]
Maturity date	Jul. 02, 2024
Exercise price \| $ / shares	$ 1.27
HBC [Member]
Bonds with Warrants [Line Items]
Aggregate purchase price \| $	$ 3,795,867

Bonds with Warrants (Details) -

Bonds with Warrants (Details) - Schedule of Bonds with Warrant Outstanding	9 Months Ended
	Sep. 30, 2024 USD ($)
Schedule of Bonds with Warrant Outstanding [Abstract]
Amount as of December 31, 2023	$ 3,489,995
Translation adjustment	(79,871)
Amount as of September 30, 2024	$ 3,410,124

Bonds with Warrants (Details)_2

Bonds with Warrants (Details) - Schedule of Terms and Conditions of Bonds with Warrants - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Schedule of Terms and Conditions of Bonds with Warrants [Line Items]
Amount	$ 3,410,124	$ 3,489,995
11 [Member]
Schedule of Terms and Conditions of Bonds with Warrants [Line Items]
Issue Date	Jul. 02, 2021
Maturity	Jul. 02, 2024
Amount	$ 3,410,124
Nominal Interest Rate	0%
Interest Rate of Return	3%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Schedule of Assets and Liabilities Measured at Fair Value - Fair Value, Recurring [Member] - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Assets
Investments
Liabilities
Bonds with warrants	3,410,124	3,489,995
Level 1 [Member]
Assets
Investments
Liabilities
Bonds with warrants
Level 2 [Member]
Assets
Investments
Liabilities
Bonds with warrants
Level 3 [Member]
Assets
Investments
Liabilities
Bonds with warrants	$ 3,410,124	$ 3,489,995

Significant Non-Cash Transact_3

Significant Non-Cash Transaction (Details) - USD ($)	9 Months Ended
Significant Non-Cash Transaction (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2024	Dec. 31, 2023
Significant Non-Cash Transaction [ Line Items]
Short-term loan payable		$ 15,438
Decrease in short-term loan	$ 392,976
Short-Term Loan Payables [Member]
Significant Non-Cash Transaction [ Line Items]
Short-term loan payable	$ 392,976
Common Stock [Member]
Significant Non-Cash Transaction [ Line Items]
Shares of common stock (in Shares)	309,430

Significant Non-Cash Transact_4

Significant Non-Cash Transaction (Details) - Schedule of Significant Non-Cash Investing and Financing Activities - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Schedule of Significant Non-Cash Investing and Financing Activities [Abstract]
Offsetting short-term loan payables by exercising warrants to purchase 309,430 common stock		$ (392,976)
Total		$ (392,976)

Significant Non-Cash Transact_5

Significant Non-Cash Transaction (Details) - Schedule of Significant Non-Cash Investing and Financing Activities (Parentheticals) - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Schedule of Significant Non-Cash Investing and Financing Activities [Abstract]
Warrants to purchase common stock	309,430	309,430

Share Capital (Details)

Share Capital (Details) - USD ($)						1 Months Ended			2 Months Ended	9 Months Ended
Share Capital (Details) - USD ($)	Dec. 28, 2023	Jul. 31, 2023	May 31, 2023	May 08, 2023	Apr. 13, 2023	Mar. 31, 2023	Mar. 24, 2023	Feb. 28, 2023	Mar. 08, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	May 04, 2023
Share Capital [Line Items]
Shares authorized										110,000,000		110,000,000
Common stock, shares authorized										100,000,000		100,000,000
Common stock, par value										$ 0.001		$ 0.001
Preferred stock, shares undesignated										10,000,000		10,000,000
Preferred stock, par value										$ 0.001		$ 0.001
Warrants exercised				$ 3,894,666	$ 420,000		$ 8,400		$ 1,813,120
Warrants exercise price				$ 1.27	$ 0.42				$ 1.27
Purchase of common shares										52,808,589		52,808,589
Foreign exchange effect exercised									$ 1,420,144
Debt conversion									$ 392,776
Price per share						$ 10		$ 10
Gross proceeds						$ 2,400,000		$ 2,400,000
Value of issuance of common stock for cash											$ 18,645,572
Other offering expenses	$ 51,554
Option purchase additional shares										131,599
Percentage of common shares										15%
Percentage of aggregate shares										5%
Common stock vote										one
Warrant [Member]
Share Capital [Line Items]
Warrants exercise price							$ 0.42
Purchase of common shares							20,000		1,427,653
Minimum [Member]
Share Capital [Line Items]
Price per share						$ 10		$ 10
Maximum [Member]
Share Capital [Line Items]
Price per share						$ 10		$ 10
Common Stock [Member]
Share Capital [Line Items]
Purchase of common shares					1,000,000
Common Stock [Member] \| Warrant [Member]
Share Capital [Line Items]
Purchase of common shares													3,066,666
Private Placement [Member]
Share Capital [Line Items]
Aggregate shares of common stock						240,000		240,000
Price per share			$ 10
Issuance of common stock for cash			760,000
Gross proceeds amount			$ 7,600,000
IPO [Member]
Share Capital [Line Items]
Issuance of common stock for cash		877,328
Price per share		$ 10
Value of issuance of common stock for cash		$ 8,773,280
Underwriting discounts		7,700,000
Other offering expenses		$ 1,100,000
Initial exercise price										$ 10
IPO [Member] \| Minimum [Member]
Share Capital [Line Items]
Purchase of common shares										45,416,942
IPO [Member] \| Maximum [Member]
Share Capital [Line Items]
Purchase of common shares										52,808,589
IPO [Member] \| Common Stock [Member]
Share Capital [Line Items]
Aggregate amount of common stock						$ 2,400,000		$ 2,400,000
IPO [Member] \| Class A Common Stock [Member]
Share Capital [Line Items]
Percentage of common shares										125%

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($)		9 Months Ended
Commitments and Contingencies (Details) - USD ($)	Dec. 28, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Commitments and Contingencies [Line Items]
Other assets		$ 0		$ 116,333
Contract deposit amount	$ 64,725
Penalties	$ 51,554
Lease expense		$ 90,312	$ 118,820
Other Assets [Member]
Commitments and Contingencies [Line Items]
Other assets				$ 116,279

Commitments and Contingencies_3

Commitments and Contingencies (Details) - Schedule of Suspended Legal Cases	9 Months Ended
	Sep. 30, 2024 USD ($)
Seoul South Federal Court ; 2023GADAN218067 [Member]
Schedule of Suspended Legal Cases [Line Items]
Opponent	Seoul Yacht Marina, Co., Ltd, and another
Case Summary	Building Delivery
Litigation Value	$ 85,212
Seoul South Federal Court ; 2024GASO214189 [Member]
Schedule of Suspended Legal Cases [Line Items]
Opponent	Seoul Yacht Marina, Co., Ltd
Case Summary	Compensation for damages
Litigation Value	$ 10,908

Related Party Transactions (Det

Related Party Transactions (Details) - Changhyk Kang [Member] - USD ($)	Jun. 04, 2024	Apr. 01, 2024
Related Party Transactions [Line Items]
Short-term borrowing agreement principal amount	$ 438	$ 15,000
Maturity date	Jun. 03, 2025	Mar. 31, 2025

Related Party Transactions (D_2

Related Party Transactions (Details) - Schedule of Short-Term Loan Payables - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Changhyuk Kang maturing in March and June 2025 [Member]
Schedule of Short-Term Loan Payables [Line Items]
Short-term loan payables	$ 15,438
Related Party [Member]
Schedule of Short-Term Loan Payables [Line Items]
Short-term loan payables	$ 15,438

Related Party Transactions (D_3

Related Party Transactions (Details) - Schedule of Loan Payables - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Loan payables maturing in March 31, 2025 [Member]
Schedule of Loan Payables [Line Items]
Loan payables	$ 15,000
Loan payables maturing in June 3, 2025 [Member]
Schedule of Loan Payables [Line Items]
Loan payables	438
Changhyuk Kang’s loan payables [Member]
Schedule of Loan Payables [Line Items]
Loan payables	$ 15,438

Disposal of Subsidiaries and _3

Disposal of Subsidiaries and Discontinued Operations (Details) - USD ($)		9 Months Ended
	Dec. 28, 2023	Sep. 30, 2024
Hanryu Times [Member]
Disposal of Subsidiaries and Discontinued Operations [Line Items]
Sale of owned whole shares	$ 153,265
Fantoo Entertainment [Member]
Disposal of Subsidiaries and Discontinued Operations [Line Items]
Sale of owned whole shares	76,604
K-Commerce [Member]
Disposal of Subsidiaries and Discontinued Operations [Line Items]
Sale of owned whole shares	$ 229,813
Gain on disposal of subsidiary		$ 3,390,323

Disposal of Subsidiaries and _4

Disposal of Subsidiaries and Discontinued Operations (Details) - Schedule of Disposal of Subsidiaries and Discontinued Operations - Discontinued Operations [Member] - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 28, 2023
Schedule of Disposal of Subsidiaries and Discontinued Operations [Line Items]
Considerations		$ 459,682
The carrying amount of any noncontrolling interest		236,166
Net liabilities		(2,694,475)
Gain on disposal of subsidiaries		$ 3,390,323
CURRENT ASSETS:	$ 62,216
Cash and Cash Equivalents	1,996
Short-term loans	7,756
Accounts receivable, net of allowance	2,863
Non-trade receivables	33,850
Prepaid expenses and other receivables	15,751
PROPERTY PLANTAND EQUIPMENT, NET	98,682
Total Assets	160,898
CURRENT LIABILITIES:	2,855,373
Short-term borrowings	1,527,104
Account Payable	369,266
Non-trade accounts payable	941,968
Accrued expenses and other current liabilities	17,035
Total Liabilities	2,855,373
Total Stockholder’s Equity (Deficiency)	(2,694,475)
Sales	33,323
Cost of Revenue	10,506
Gross profit (Loss)	22,817
OPERATING EXPENSES:	1,235,907
OPERATING LOSS	(1,213,090)
OTHER INCOME(EXPENSE):	(2,562)
Net loss before taxes	(1,215,652)
Income tax expense
NET INCOME(LOSS)	$ (1,215,652)

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Aug. 06, 2024	Sep. 30, 2024	Dec. 31, 2023
Subsequent Events [Line Items]
Bond with warrants (in Dollars)		$ 3,410,124	$ 3,489,995
Bid price per share	$ 1
Consecutive business days	30 days
Subsequent Event [Member]
Subsequent Events [Line Items]
Bid price per share	$ 1
Bonds with Warrants [Member]
Subsequent Events [Line Items]
Bond with warrants (in Dollars)		$ 3,410,124
Warrants maturity date		Jul. 02, 2024