SK Networks invests 26 billion KRW in blockchain company 'Hashed'

SK Networks announced on the 4th that it has signed a memorandum of understanding (MOU) with Hashed Ventures, a venture capital company established by Hashed, to collaborate on investment for discovering blockchain-related startups and revitalizing the ecosystem, committing to an investment of approximately 26 billion KRW. After signing the MOU, Choi Seong-hwan, Head of Business at SK Networks (left), and Kim Seo-jun, CEO of Hashed Ventures, took a commemorative photo.

[Asia Economy Reporter Kiho Sung] SK Networks announced on the 4th that it has signed a memorandum of understanding (MOU) for 'investment cooperation to discover blockchain-related startups and revitalize the ecosystem' with Hashed Venture, a venture capital firm established by Hashed, and decided to execute an investment worth 26 billion KRW.

Hashed is a leading blockchain-focused investment company in South Korea. Since its establishment in 2017, it has participated in investments in blockchain technology companies in the global market and decentralized projects. Notably, it has invested in blockchain teams with innovative technologies and services such as Kakao's Klaytn, LINE's LINK, Terra, Axie Infinity, and dydx. Kim Seo-joon, CEO of Hashed Venture, is recognized as a blockchain expert with deep understanding and insight into the market.

According to this agreement, both companies will jointly promote the integration of blockchain technology into the existing business models of SK Networks' subsidiaries, SK Rent-a-Car and SK Magic, and will seek investment opportunities in promising global blockchain startups together. Additionally, Hashed will serve as a key partner in advancing blockchain businesses for SK Group affiliates in the future. Through this, SK Networks plans to activate global blockchain-related investments and enhance synergy between future promising sectors and the company's business.

Lee Won-hee, Head of Blockchain Business Division at SK Networks, said, “Through this agreement with Hashed, we will gain important insights into our company's future business models related to blockchain,” adding, “By revitalizing the blockchain ecosystem, both companies will achieve mutual win-win outcomes and drive SK Networks' growth through blockchain business.”

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