NHN creates CEO-led unit to push blockchain and Web3 businesses

NHN has chosen blockchain as a new business focus and has begun hiring related personnel and reorganizing its structure, ZDNet Korea reported. The move is seen as a group-level response in preparation for the regulatory formalization of won-denominated stablecoins. According to the report, NHN set up a new business promotion office directly under CEO Jung Woo-jin earlier this year. The office oversees new businesses across the group, while a new business strategy team handles day-to-day operations. The new unit is also expected to lead a group-wide review of a won stablecoin business. Within the group, NHN KCP, its payments affiliate, is currently leading stablecoin-related efforts and is expected to play a central role. NHN KCP is also said to be preparing to obtain a virtual asset service provider (VASP) license within the year.