Korean Fintech Announces $380 Million Investment in Web3 Initiatives

• 10,000 new web3 jobs will be created as part of the company’s $380 million investment.
• According to the notification, local university graduates would be given precedence.

Dunamu, an asset management, and fintech company plans to invest $380 million to generate over 10,000 new web3 jobs. Dunamu is a well-known South Korean financial technology business. Huobi, a cryptocurrency exchange, is one of the several platforms under the company’s management. 10,000 new web3 jobs will be created as part of the company’s $380 million investment. 

Significant Opportunity For Young Talent

The Korea JoongAng Daily, a South Korean news outlet, broke the news of the announcement. For the time being, Dunamu said the business plans to set up an office in major cities and foster up-and-coming startups and IT workers from remote areas. Dunamu plans to open offices in Busan, Daegu, Gwangju, and Daejeon to serve its local customers’ needs better. 

According to the notification, local university graduates would be given precedence for recruiting. Over 8,000 new jobs will be created due to Dunamu’s 500 startup initiatives. The company’s growth initiative aims to provide software and funding support to startups entering the web3 world.

Several of these startups will get help from Dunamu’s subsidiaries as they look to grow internationally. The project helps Korea compete more closely with other countries across the world in the web3 sphere.

It has funded 88 billion won in several blockchain and fintech businesses since 2018. Companies are struggling for their existence at the time of the announcement. Due to the challenging market circumstances, many companies will have to lay off many people in order to remain financially viable. In contrast, some like 3AC has filed for bankruptcy following the Terra crash in May this year.

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