Korean Fintech Giant, Dunamu Intends to Create 10K Web3 Jobs Despite Bear Market

Key Takeaways:

  • Owner of Upbit, Dunamu, announced intentions to invest almost $380 million and add 10,000 jobs over the course of the next five years.
  • Dunamu intends to support the decentralisation of industries including IT, finance, digital assets, and blockchain expertise based in central Seoul.
  • The company has offered to sponsor 500 Web3 startups and add 8,000 new jobs.

One of the largest blockchain firms in South Korea, Dunamu, which was established in 2012 and plans to invest KRW 500 billion won (US$380 million) to develop regional offices in Busan, Daegu, Daejeon, and Gwangju in addition to its headquarters in Seoul. The fintech and blockchain company predicts that the regional offices will increase the number of jobs in the market by over 1,000, with local college graduates receiving preference for employment.

According to a Korea JoongAng Daily report, the project is a part of the company’s efforts to increase Korea’s Web3.0 competence.

The fintech powerhouse behind famous cryptocurrency exchange Upbit has invested almost 88 billion won ($67 million) in Web3 businesses since 2018.

The financial technology behemoth plans to establish offices in significant American cities and create educational initiatives to introduce newcomers to the Web3 ecosystem. Priority would be given to recent university graduates in the programme, which aims to launch 500 new firms.

Dunamu wants to decentralise the financial and information technology industries and open offices not only in the technologically advanced city of Seoul but also in other significant cities like Daejeon, Daegu, Gwangju, and Busan. A total of 1,000 positions will be available to workers outside the metropolitan area.  Additionally, there will be greater chances for local graduates to be hired for Web3 positions and trained in IT.

“Dunamu, which has been working to develop talent in emerging industries like fintech and blockchain, has consistently worked to address the national dilemma of providing jobs for young people. Through aggressive investment and employment development, we will boost the nation’s industrial competitiveness, according to CEO Lee Seok-woo of Dunamu.

Just a few months after being subjected to intense examination by the nation’s regulators, Dunamu announced that it will make large investments in the Web3 ecosystem. The crypto exchange firm was targeted by the securities regulator earlier in April of this year in an effort to break up its market monopoly.

South Korea is embracing new technology and is not afraid of the bear market. The Asian nation gave Metaverse businesses $177 million last month. Additionally, Solana Ventures has raised $100 million for the GameFi and DeFi sectors in South Korea. Pro-crypto conservative candidate Yoon Suk-Yeol Winning  South Korea’s Presidential Election has also changed the crypto sentiment in the Republic of Korea

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Shreya Bhattacharya

A journalist & writer exploring new topics every day!

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