Dunamu Eyes 10,000 New Jobs with $385M Investment in Web3 Startups

Korean digital asset management and crypto exchange services provider is investing $385 million in Web3 startups to create 10,000 jobs.
Imagw source: Dunamu/LinkedIn

Quick take:

  • Dunamu is investing 500 billion won ($385 million) to create 10,000 new jobs.
  • The çompany is targeting the Web3 space including the metaverse and NFTs with the new fund.
  • The project also includes opening offices in major cities for promising Web3 startups and professionals from suburban areas.

Dunamu has launched an ambitious project of creating 10,000 new jobs over the next five years. The company is investing 500 billion won ($385 million) in Web3 startups. 

Announcing its new project on Tuesday, Dunamu said it plans to open offices in major cities to onboard promising IT startups and workers from suburban areas. The company is popularly known in the crypto space for operating a cryptocurrency exchange platform.

However, it has also backed several Web3 projects including using its subsidiary collaborating with Metacong, CandyPlus, SooHo and Mesh Korea through its subsidiary Lambda256 to launch a new blockchain consortium mainnet, The Balance.

Dunamu is looking to onboard more people to web3 through its mega cities project, with offices in Busan, Daegu, Gwangju and Daejeon set to help local customers consult on their crypto investments.

The company is targeting approximately 1,000 new jobs from its new network of offices. The company also plans to develop 500 new startups, creating 8,000 new jobs. The startups will be centred on providing software to onboard businesses to Web3. 

Commenting on his company’s new venture, Lee Sirgoo, a Dunamu CEO said the investment is part of the company’s mission of continually trying to generate jobs for the youth. 

“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,” Sirgoo added.

South Korea is one of the leading proponents of the metaverse. In January 2021, the government revealed a multi-pronged strategy, pledging to become one of the leading global metaverse markets by 2026.

The plan included nurturing 40,000 professionals and 220 companies specialising in metaverse technology. In February, it committed $186.7 million towards creating a national metaverse ecosystem to support corporate and digital content growth in the country.

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