Over Half of Leading Korean Conglomerates Are Venturing Into Web3 and Blockchain

Woori Bank Joins Forces with Samsung Securities and SK Securities to Pioneer Security Token MarketWoori Bank has recently forged a memorandum of understanding (MOU) with Samsung Securities and SK Securities, aiming to swiftly venture into the security token market in anticipation of the forthcoming institutionalization of security tokens in South Korea, according to local news outlet Dailian.Photo by Anna Evlanova on UnsplashKorea’s regulatory pathway for security tokensIn February, the Financial Services Commission unveiled guidelines for regulating the issuance and distribution of security tokens. This initiative aligns with the South Korean government’s broader goal of driving innovation in digital finance. Following this, the National Assembly conducted a public hearing on the proposed legislation. Additionally, the Financial Supervisory Service organized an informative session discussing the updated application procedure for investment contract securities and the corresponding examination protocols. As a result, the outlines of the regulatory framework are beginning to take on a more defined form.Compliance with regulatory frameworkWoori Bank President Byung-Kyu Cho, Samsung Securities President Chang Seok-hoon, and SK Securities CEO Kim Shin were present at the signing ceremony. During this event, the three financial institutions agreed to embark on their collaborative efforts to explore business models for security tokens in compliance with the regulatory framework. Their aims include constructing the infrastructure for security tokens and validating distributed ledgers, as well as forming Finance 3.0 Partners (F3P), a collaborative consortium dedicated to formulating investor protection measures.Three entities’ individual endeavorsWoori Bank has undertaken extensive preparations to make its foray into the security token market. In an effort to swiftly adapt to the changing legal dynamics surrounding security tokens, the bank has established a dedicated division and is operating a task force responsible for devising strategic approaches, with participation from Woori Financial Group’s affiliates. By partnering closely with the securities firms, Woori aims to leverage its wealth of corporate finance expertise to identify innovative business models.Samsung Securities has successfully concluded its own functional verification of the security token platform. Furthermore, the company has secured the technology necessary to connect blockchain wallets and securities accounts. These efforts will contribute to providing stable services. Samsung is also anticipating the utilization of security tokens as a fresh avenue for financing, collaborating with various enterprises to discover their practical applications. Through these endeavors, the company intends to offer attractive and stable investment products to its clientele.SK Securities stands out as the sole Korean securities firm to have established an account management system for security tokens, with the intention of seeking designation as an innovative financial service by the Financial Services Commission. Initiatives chosen as innovative financial services are granted regulatory exemptions. SK Securities has partnered with a variety of fractional investment firms to spearhead the research and development of security token issuance and distribution systems. It also plans to collaborate with experts in the domains of finance, technology, and content. This joint effort aims to build the infrastructure necessary to create a financial ecosystem that welcomes diverse participants and creates new value.An F3P official highlighted that this tripartite partnership would facilitate the alignment of their members’ security token products with regulatory guidelines. The person also mentioned their commitment to swiftly establishing a top-notch platform and ecosystem that will help position them as market leaders.

Crypto fund manager secures capital markets license in SingaporeDigital asset fund manager HashKey Capital Singapore celebrated a significant milestone on Tuesday as it secured a regulatory license from the local regulator and central bank, the Monetary Authority of Singapore (MAS).Photo by Mike Enerio on Unsplash‘Pivotal development’HashKey announced its regulatory success by way of a press release published to its website. This achievement, described by the company as a “pivotal development,” positions the firm to offer regulated fund management services primarily in connection with capital markets products from its Singapore base.Deng Chao, Chief Executive of HashKey Capital Singapore and Head of HashKey Singapore, expressed the company’s commitment to the local blockchain community, stating:“As a licensed fund management company, we are committed to contributing to the local blockchain community and playing our part in shaping its future.”Enabling product launchHaving initiated the licensing process in late 2021, HashKey Capital Singapore now plans to leverage its new status to launch a regulated fund and provide capital market products to local customers. The company envisions connecting blockchain experts and global capital to the local market, contributing to the advancement of the blockchain community in the region.Chao emphasized the company’s excitement about propelling blockchain-related capital markets products and investments further into the mainstream. This move is expected to open new possibilities for institutional and accredited investors in Singapore.Hong Kong presenceHashKey Capital falls under the overarching umbrella of Hong Kong-headquartered parent company HashKey Group. Company colleagues in Hong Kong have been busy in 2023, with a number of milestones having been achieved during the year.HashKey and OSL became the first digital asset exchange platforms to be licensed by the Hong Kong Securities and Futures Commission (SFC) as part of a new regulatory approach that allowed such platforms to offer their services to retail investors from June 1 onwards.A few months on from that and the company has been working towards increasing platform liquidity and trading volumes through a token rewards program and partnerships with market makers.At the end of October, the firm launched an exchange app, having received approval for the product from the local regulator. The firm has also bolstered customer deposit protection by way of a deal struck with fintech firm OneDegree to provide insurance cover for digital assets held on the platform.In April, a separate entity, HashKey Wealth, was formed, offering a wealth management service to both institutional and individual investors looking for exposure to digital assets.HashKey Singapore, inclusive of HashKey Capital Singapore, boasts a team of approximately 40 professionals covering various areas such as venture capital investment, fund management and over-the-counter trading of digital assets. The development follows HashKey Capital’s successful conclusion of a $500 million funding round, reinforcing its position as one of the largest crypto asset managers.Founded in 2015, HashKey Capital has played a pioneering role as an institutional investor in Ethereum, managing over $1 billion in client assets and making investments in more than 500 projects across infrastructure, tools and applications.During a funding round which the HashKey Group pursued earlier this year, it emerged that the company was being valued at $1 billion.

Relic, a Tokyo-based provider of business co-creation services, has launched a fan-driven short anime project using NFT and blockchain technology in collaboration with MetaMe, a metacommunication service developed by mobile carrier NTT Docomo.Photo by Dex Ezekiel on UnsplashFan empowerment through DAO and NFTsAccording to a press release on PR TIMES, the project, set to officially launch on June 19, 2025, aims to be accessible even to newcomers to NFTs or Web3. It will strive to ensure sustainability through transparent fund management and community-driven decision-making. The project introduces a new anime production model called "Anime DAO," starting with a near-future anime set in Neo Tokyo in 2050 that features characters and the world of the popular NFT collection "NEO TOKYO PUNKS." Funding will be raised through crowdfunding and the sale of celluloid art NFTs. Supporters will have the opportunity to vote on production decisions and own iconic scene NFTs once the anime is completed. The finished anime will premiere on MetaMe, followed by exclusive streaming on d-anime Store, while also integrating with the blockchain game GT6551, where fans can use anime characters and vehicles. This cross-media project combines anime, NFTs and e-sports, enhancing both fan engagement and user experience. Growing blockchain adoption in animeThis further demonstrates how the animation industry is embracing blockchain technology. In January, the Animecoin Foundation—whose early key contributors include Los Angeles-based NFT project Azuki—introduced the ANIME token on Ethereum and Arbitrum. Its tokenomics indicate a total supply of 10 billion tokens. The Foundation aims to connect the global anime fan base to blockchain, enabling creators to gain clearer insights into fan engagement and attribution, potentially unlocking new revenue models to support their intellectual property (IP). Although established in March 2024, the Animecoin Foundation traces its origins to Azuki’s mission of building an open anime universe. Azuki focuses on using blockchain technology and community involvement to develop decentralized anime IP and enrich the fan experience.  In a separate development, South Korea’s blockchain gaming platform WEMIX inked a memorandum of understanding (MOU) with Japan’s Toei Animation late last year. Known for producing iconic titles such as Dragon Ball, One Piece and Slam Dunk, Toei Animation brings its storytelling and IP expertise, while WEMIX provides blockchain technology. The partnership aims to create an innovative blockchain-based gaming experience for a global audience.