Creating a Blockchain Specialized City! ... Busan City Signs MOU with Global Digital Asset Exchange Binance

Busan City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] On the 26th at 9 a.m., Busan City signed a business agreement with Binance, a global digital asset exchange, at City Hall for the "Promotion of Busan's Blockchain Industry and Establishment of Busan Digital Asset Exchange."

The signing ceremony was attended by Park Hyung-joon, Mayor of Busan, Changpeng Zhao, CEO of Binance, and Binance officials.

Through this agreement, Busan City and Binance will join forces to create a global digital asset hub by jointly promoting the establishment of the Busan Digital Asset Exchange and various projects in the blockchain sector.

According to the agreement, the city will receive technical and infrastructural support from Binance to establish the Busan Digital Asset Exchange and will open blockchain-specialized education programs linked with Binance and local universities in Busan. Binance will provide academy online content and Binance internship programs.

They plan to mutually cooperate to foster the blockchain industry by jointly promoting various projects utilizing local blockchain conferences and the blockchain regulatory free zone, as well as conducting related research and investments together.

The two organizations agreed to actively cooperate using Binance’s global network to ensure the successful hosting of BWB 2022 (Blockchain Week in Busan 2022), which will be held for three days from October 27 at BEXCO in Busan.

Binance, founded in July 2017 by Chinese-Canadian CEO Changpeng Zhao, is one of the world's largest global blockchain infrastructure companies.

A Binance official stated, "We plan to establish the Binance Korea office in Busan within this year, and through the establishment of the office, we will strive to make Busan a driving force for growth as Asia’s digital hub."

Changpeng Zhao, CEO of Binance, said, "Binance will actively cooperate with Busan City in establishing the digital asset exchange and various blockchain industry promotion policies through close mutual collaboration."

Park Hyung-joon, Mayor of Busan, said, "With this agreement, we have taken a step closer to building the Busan Digital Asset Exchange as a global integrated platform for digital assets," adding, "We will develop Busan into a blockchain-specialized city that is recognized worldwide, securing new growth engines for the local economy and making it a global digital finance hub city."

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