Dunamu, the operator of South Korea’s largest crypto exchange Upbit, on Tuesday said it will invest nearly $380 million and create 10,000 jobs over the next 5 years. The crypto exchange owner will also open offices across South Korean cities and help startups enter the Web3 ecosystem.
Terra-LUNA fiasco has impacted Dunamu and its crypto exchange Upbit greatly. It faced investigations over dumping LUNC tokens, formerly LUNA, worth over $100 million before the prices tumbled. However, the firm claims the tokens were swapped for bitcoins in Feb 2021.
Dunamu Plans Domestic Expansion and Web3 Adoption in Korea
Upbit’s owner Dunamu plans to increase crypto, blockchain, and Web3 adoption in the country as it announces to make over $380 million investment in the next 5 years, reported The Korea Herald on July 12.
The company plans to support 500 Web3 startups and create almost 8000 new jobs for startup counseling programs. Moreover, it will recruit 1000 new developers, in addition to management and other employees for its growing business.
Sirgoo Lee, CEO of Dunamu, said:
