South Korea’s largest telecom and the third top conglomerate SK Group has invested $10 million in major global blockchain firm ConsenSys, according to a report by local news agency Chosun on July 2.
Worth noting is the increased involvement of major South Korean companies into crypto industry, including Samsung, internet giant Kakao, Hyundai, among others.
In the report, Chey Tae-won, chairman at SK Corporation and South Korean billionaire entrepreneur, has expressed interest in blockchain and token economy. Speaking at a tech startup event in Seoul, Chey argued that traditional business approaches “should be digitized.”
The SK chairman also pointed out that blockchain and token economy “can be separated,” adding that digital tech will “greatly contribute to SK and startup…