Dubai and South Korea Partner for Blockchain and Metaverse Ventures

1. DMCC struck a partnership with KBIPA live at the Made For Trade event in Korea.
2. This partnership will allow South Korean Web3 enterprises to leverage Dubai’s location.
3. Dubai is driven to support Web3 technologies and welcomes its new partners.

Dubai Multi Commodities Centre (DMCC) has signed Memorandums of Understanding (MoUs) with two South Korean entities, KBIPA and Seongnam City, during its Made for Trade Live roadshows in Seoul and Gyeonggi.

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In detail, DMCC announces its partnership with KBIPA and Seongnam City, South Korea. The partnership was made live during the Made For Trade event in Korea. The MoUs aim to promote Web3 technology globally by supporting South Korean enterprises. 

Additionally, the MoUs’ goal is to enhance the development and application of Web3 technologies globally. By supporting them in setting up at the DMCC Crypto Centre and the new Gaming Centre in Dubai, South Korean Web3 companies will provide growth opportunities to everyone involved.

DMCC executives addressed over 500 representatives of the South Korean business community at the two roadshow events, highlighting the opportunities on offer in Dubai and the benefits of doing business in the city. 

With over 80 businesses from South Korea already calling DMCC home, the roadshow solidifies the relationship between DMCC and South Korea and enhances foreign direct investment (FDI) to Dubai. The Made for Trade roadshow follows a state visit by the Korean president who attended the UAE-Korea Business Forum.

The Executive Chairman and Chief Executive Officer at DMCC, Ahmed Bin Sulayem, says that they are fully committed to supporting high-growth sectors which includes the Web3 space.

In addition, Bin Sulayem says DMCC believes in South Korean businesses benefiting greatly from settling and scaling their businesses in Dubai. 

“The signing of these MoUs with KBIPA and Seongnam City comes at a perfect time, as we continue to accelerate our strategy of supporting businesses in these sectors.”

Meanwhile, the Chairman at KBIPA, Hyeong-Joo Kim, expresses how the UAE represents one of the strongest economies within the MENA area. In particular, he mentions how Dubai has risen to become a global hub for Web3 technologies.

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