Amid the Rising Lay-offs, One Korean Fintech Firm Plans To Create Over 10K New Web3 Jobs

Vignesh Karunanidhi
Amid the Rising Lay-offs, One Korean Fintech Firm Plans To Create Over 10K New Web3 Jobs
Source: Unsplash

Asset management and fintech firm Dunamu is planning to create over 10,000 new web3 jobs with a $380 million investment. Dunamu is a renowned fintech company that operates in South Korea.

The firm manages several blockchain platforms, including cryptocurrency exchange Huobi. The company announced it plans to invest $380 million (500 billion won) to create 10,000 new job opportunities in the web3 space. The creation is not imminent and is envisioned to be completed in the next five years.

The announcement was published by a Korean news publication called the Korea JoongAng Daily.

Source: Nation Thailand (Dunamu CEO Lee Sirgoo)

Dunamu also plans to open several offices

According to Dunamu, the company will establish offices in key cities and nurture bright start-ups and IT professionals from outlying regions.

To assist local clients with advice on their cryptocurrency investments, Dunamu wants to create offices in Busan, Daegu, Gwangju, and Daejeon. According to the corporation, the offices will add almost a thousand new positions.

According to the announcement, recruitment priority will be given to local university graduates. Dunamu plans to develop around 500 startups to create over 8,000 new job opportunities. The expansion program by the firm is aimed at helping startups enter the web3 realm with software and investment assistance.

Source: Fidibo

The firm will also assist several of these startups to expand overseas with the assistance of Dunamu’s subsidiaries. The initiative plays a part in bringing in tighter competition by Korea as global nations are trying to claim their place in the web3 realm.

Since 2018, the firm has invested 88 billion won in different fintech and blockchain startups. The announcement comes at a time when companies are fighting for survival. Several firms are also laying off large numbers of employees to stay robust during the harsh market conditions.