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In a press releases today, Huobi Global and Huobi Korea announced that they had partnered with the Busan Metropolitan City government and signed a Memorandum of Understanding (MoU).

With the signing of the agreement, Huobi Global and Huobi Korea will work closely with the city to develop the blockchain industry in the city, supporting its vision to become a global hub for digital assets through the development of the blockchain industry.

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The Busan Digital Currency Exchange will be receiving support in terms of R&D, technology, and financial resources, as well as recruiting blockchain talent from across the world to work at the Busan exchange as part of the partnership.

Expanding the Market

The Korean Financial Services Commission published a license for Huobi to operate in South Korea through its local office at the beginning of this year.

The Busan Metropolitan City government is planning to develop a blockchain infrastructure in collaboration with Huobi since it is the first digital asset exchange with a physical presence in Korea to do so.

Huobi has a solid record of delivering premium services to users in the region, paired with its operational experience in Korea and its understanding of this market, giving it an edge in helping Busan establish a blockchain ecosystem that is sound and safe. The company can surely study the market further and offer more innovative solutions.

A strong relationship has been built over the years between the company and major local groups in the development of its own blockchain business, as well as good ties to the Korean blockchain industry.

Aside from pursuing innovative business ventures with other Korean companies, Huobi Korea has also explored innovative business ventures under an approach that emphasizes mutual gains between both companies.

Huobi Korea CEO Junyong Choi said:

“We’re excited to be working with the city of Busan to transform it into a global digital assets hub. We believe that Busan has strong attributes for fostering innovation and growth and share their belief that blockchain technologies can transform and benefit traditional industries. We look forward to leveraging our expertise and experience to grow blockchain adoption in the city and across the region.”

Huobi also intends to enhance its commitment to the blockchain industry by becoming the main sponsor of Busan Blockchain Week 2022, which will be underway from October 27th to October 31st.

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