Upbit Operator Dunamu to Create 10K Jobs by Investing $380M

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The firm noted that it would be prioritizing recent university graduates and giving them the “opportunity to be trained in IT” first.

Dunamu, a South Korean-based fintech organization operating cryptocurrency exchange Upbit, has recently revealed that it would be spending 500 billion won, estimated at around $380M, to create 10k new jobs in order to raise Korea’s competitiveness in Web3.

According to the official announcement issued on July 12th, Dunamu will be opening offices in major cities across South Korea, including Busan, Daegu, Daejeon, and Gwangju. On top of that, the firm will be reportedly creating 8000 new jobs, developing training programs, and establishing 500 up-and-coming startups over the next 5 years.

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As stated in the official report, the blockchain company is also going to enlist around 1000 new developers, giving a chance for university graduates to join the organization first.

Lee Sirgoo, CEO of Dunamu, has commented on the initiative and noted that the fintech giant is seeking to ensure its competitiveness in Web3 technology by employing thousands of talented people who have experience in the crypto industry. He added:

“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, nonfungible token (NFT) and the metaverse.”

Dunamu, founded in 2012 and managing over $8B in assets, has already invested 88 billion won, worth around $67M, in various blockchain-driven startups.

It seems as though South Korea’s blockchain-driven business wasn’t fazed by the current bear market and massive layoffs in the crypto ecosystem. A number of corporations, such as Coinbase, Huobi Global, Banxa, Gemini, Crypto.com, and Robinhood, are cutting a significant portion of their staff.

Nonetheless, not all hope is lost, as several companies decided to go in a different direction and employ more employees just like Dunamu. The rather small list includes the world’s largest crypto exchange Binance and its rival Kraken, as well as FTX.