Key Takeaways:
- Former South Korean First Deputy Minister of Economy and Finance Yong-beom Kim has been appointed CEO of Hashed Open Research.
- Former Vice Minister Kim hopes to increase Korea’s efficiency in the blockchain and digital economy industries through collaboration.
Kim Yong-beom, former Vice Minister of Strategy and Finance, will enter the blockchain and virtual asset markets.
As vice chairman of the Financial Services Commission in 2018, he was responsible for systematically rearranging the virtual asset ecosystem under the Specific Financial Information Act.
On Tuesday, Kim said on Facebook that he is partnering with HOR to facilitate a positive discourse between blockchain specialists and Korean authorities through open seminars since the newly elected administration has designated the ‘Digital Asset Basic Law‘ as a state task.
Hashed Open Research is a consulting and research firm founded on August 11th as an affiliate of Hashed, a specialist blockchain accelerator, with a total capital of 2 billion won.
Kim stated in his statement that after quitting public office last year, he met with promising youngsters and learned about Korea’s potential in blockchain and the digital economy areas. “I met Hashed CEO, Simon Seo-jun Kim, a year ago through his father, whom I’ve known for 20 years,” the former Vice Minister of Finance remarked.
Kim Kyung-jin, a former member of the National Assembly, has also joined Hashed Open Research as an auditor.
Former Rep. Kim is now a general policy advisor at the Korea Industrial Technology Association after serving as a member of the National Assembly in his twenties.
He worked as a special advisor for foreign cooperation during Yun Seok-presidential yeol’s campaign and as the head of the People’s Power Election Countermeasures Headquarters’ permanent public affairs advisory.
Korea has the potential to become a global G2 that competes with the US in the digital sector, given the country’s high level of 5G penetration, Korean startups’ software technology, the world’s fourth largest online games market, the size of Korea’s crypto market, and the strength of Korean media content.
Seven firms recently submitted formal requests for basic approval and the creation of corporations to run an exchange. Samsung Securities, Mirae Asset Securities, NH Investment & Securities, KB Securities, and Shinhan Financial Investment are heavyweights in the securities industry.
Former Future Management Development Institute chief Kim Yong-gu has been hired as an inside director. Seo-Jun Kim, the CEO of Hashd, is the father of Director Kim. The goal of Hashed Open Research is to assist in the growth of the Future Management Development Research Institute in 1994 by leveraging 30 years of operational expertise.
A representative from Hashed Open Research stated, “We want to identify patterns and arrange the agenda since domestic institutionalisation is urgently needed.“
When Yong-beom was Vice Chairman of the FSC, he implemented the real-name system as part of the Special Payments Act for trading cryptocurrencies to reduce speculative and illegal activity during the 2018 crypto frenzy.
He took a four and a half-year leave of absence from the government in 2000 to work as a senior economist at the World Bank, where he focused on the Chinese economy. He was on the Presidential Committee for the G20 Seoul Summit in 2010 as Director General of the Global Financial Architecture Bureau.
