By
Steve Muchoki
April 25th, 2024
Dunamu plans to open offices across major cities, including Busan, Gwangju, Daegu, and Daejeon. These offices will be accessible for local customers to consult on their crypto investments.
Despite the bear market, South Korean fintech giant Dunamu is going big into the Web3 space with plans to create over 10,000 jobs in the ecosystem. The fintech firm, which operates crypto exchange Upbit, is planning to invest 500 billion won ($380 million) in its Web3 ambition as it aims to become a leader in the industry. Specifically, the company is looking to invest in 500 startups and inject funds into blockchain and Web3 projects over five years, providing thousands of jobs.
According to a local report, the startups will focus on key software solutions to encourage more firms to join in the race. Dunamu CEO Lee Sirgoo spoke on the company’s investment in Web3 to create jobs. The CEO said the initiative is to strengthen South Korea’s position in the rapidly growing ecosystem. He added that the initiative aims to offer employment in the metaverse, blockchain, and non-fungible tokens (NFTs).
“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, non fungible token (NFT) and the metaverse.”
Dunamu Plans to Generate Web3 Jobs as Major Crypto Companies Reduce Headcounts
Dunamu plans to open offices across major cities, including Busan, Gwangju, Daegu, and Daejeon. These offices will be accessible for local customers to consult on their crypto investments. The company will prioritize hiring graduates from local universities, and they will be trained in IT. Dunamu has invested more than 88 billion won in fintech startups and blockchain since 2018. The CEO added that Dunamu “continuously tried to generate jobs for the youth.”
Dunamu is creating 10,000 new Web3 jobs when many crypto firms are cutting off staff due to the market condition. Major crypto firms like Bitso, Coinbase, Gemini, Vauld, and many others have cut jobs over the past months. Crypto companies downsized as the entire crypto market plunged from its ATH of about $3 trillion to around $1.2 trillion. The global market suffered and is suffering from the ongoing Russia-Ukraine war and increasing inflation. While Gemini forcefully cut 10% of its entire employees, Coinbase reduced full-time employees. BlockFi also let go of 20% of employees.
Meanwhile, Binance embarked on a hiring spree, and the company said it was confident in its decision. According to CEO Changpeng Zhao, the crypto exchange has enough resources to expand its workforce. At the time, co-founder Yi He said Binance had more than 2,000 open positions for business developers, product managers, and engineers. Binance website currency shows 923 job openings for business developers, front-end developers, and more.