Dunamu to invest W500b for 5 years to create 10,000 jobs

Dunamu, the operator of local crypto exchange Upbit, will invest 500 billion won ($380 million) to create 10,000 new jobs for the next five years.

The blockchain company plans to nurture 500 promising startups and create around 8,000 new jobs to operate startup counseling programs, according to Dunamu on Tuesday.

Startup counseling programs include “UP Start Incubator” to help those working with Web 3.0, a decentralized online system based on blockchain technology, and “UP Start Platform” which provides connection points between startups, Dunamu and investors.

Dunamu also plans to operate consultation centers as windows of communication between the company and Upbit users in major cities such as Busan, Daegu, Gwangju, and Daejeon.

Dunamu also plans to actively recruit around 1,000 new developers.

“Dunamu will contribute to strengthening national industrial competitiveness by actively investing in new future growth industries such as blockchain and creating jobs,” said Sirgoo Lee, CEO of Dunamu.

By Hong Yoo (yoohong@heraldcorp.com)