Dunamu investing ₩500B to create 10,000 new jobs

Dunamu, one of South Korea’s leading fintech companies and operator Upbit crypto exchange, revealed it would be investing about ₩500 billion or $380 million in the next five years and generate 10,000 new jobs for the locals.

Dunamu said on Tuesday this week that it is planning to support 500 up-and-coming startup firms and create new jobs to run startup counseling programs. According to The Korea Herald, these counseling programs have something called the “UP Start Incubator” that will help individuals working with Web 3.0, the third generation of the evolution of decentralized online systems based on blockchain technology.

The UP Start Platform will provide the connection points between Dunamu, the investors and startups. The company will also open some consultation offices to serve as a channel of communication between Dunamu and users of Upbit in major cities in South Korea such as Gwangju, Busan, Daejeon, and Daegu.

Korea Joongang Daily reported that through the centers, local customers would be able to easily consult with staff about their crypto investments. For these offices alone, a thousand new jobs are expected to be created. The company will also be hiring at least 1,000 new developers in the coming years.

Dunamu’s chief executive officer, Lee Sirgoo, said in a statement that “Dunamu will contribute to strengthening national industrial competitiveness by actively investing in new future growth industries such as blockchain and creating jobs.”

It was reported that Dunamu would prioritize the recruitment of fresh graduates from local universities, and they will also get a chance to be trained by the company in information technology (IT) works. The company is aiming to create the remaining 8,000 new jobs through the development of the 500 startups.

A number of these startups may also have the opportunity to expand outside of South Korea via the linked services of Dunamu subsidiaries located overseas. All of these efforts are part of the company’s aim of raising Korea’s competitiveness in the Web 3.0 business.

Finally, Dunamu was established in 2012 and has invested KRW88 billion in the blockchain and fintech startup fields since 2018. The company’s CEO reiterated that it would try to continuously create jobs for the younger generation. “We plan to strengthen the competitiveness of domestic industry through an active investment and creation of jobs of the newly growing future industries, like blockchain, NFT and metaverse,” chief Lee added.