Korea Technology to Add Business Purpose for 'Cryptocurrency Integrated with Real Estate'

[Asia Economy Reporter Jang Hyowon] Korea Technology, a KOSDAQ-listed company (CEO Shin Yonggu), announced on the 10th that it will add business objectives and appoint new directors at an extraordinary general meeting of shareholders to be held on the 24th of next month on the 8th floor of Korea Technology headquarters in Jung-gu, Seoul.

According to the announcement, the agenda for the extraordinary general meeting of shareholders includes adding business objectives for 'NFT token and virtual currency-based sales' such as ▲blockchain encrypted asset trading and brokerage ▲blockchain software development and supply ▲real estate sales ▲real estate development, as well as the appointment of directors.

It is interpreted that Korea Technology, which recently decided to raise 17 billion KRW in funds, has added numerous business objectives that can create synergy with Daewoo Shipbuilding & Marine Engineering Construction, Sungji Construction, and others.

Korea Technology is known to introduce a new concept to the existing real estate sales market by adopting a method of issuing NFT tokens or coins for the construction, execution, development, sales, and trading of real estate, enabling the use of 'real estate REITs' or 'condominium memberships' with virtual currency.

The company plans to appoint top experts who can integrate virtual currency with the real estate sales market as directors, aiming to become a game changer in the future construction sales market.

CEO Shin Yonggu said, "Korea Technology has been preparing a system for several months that can promote the sales of Daewoo Shipbuilding & Marine Engineering Construction and Sungji Construction," and added, "We plan to introduce a new concept that issues virtual currencies such as NFT tokens or coins in the existing real estate sales market. Soon, through full-scale contracts, we will showcase two to three projects."

He continued, "This will be the first case of combining real estate sales with virtual currency," and said, "Korea Technology's new sales method will be a game changer in the future sales market. Additionally, through collaboration with Daewoo Shipbuilding & Marine Engineering Construction and Sungji Construction, it will be a good opportunity to demonstrate whether synergy and profits can be achieved."

Meanwhile, Korea Technology announced on the 8th the issuance of 17 billion KRW worth of unsecured, interest-bearing, private convertible bonds (CB) with participation from the largest shareholder, and stated that it will use the large-scale fund raising to aggressively collaborate with subsidiaries and expand new businesses that can create innovative added value.

This content was produced with the assistance of AI translation services.