ATE1 Holds Meeting to Commemorate UAE Royal Family Office Visit... "Creating a Korea-Arab Bridge"

8town held a media briefing on the 8th to commemorate the visit of the UAE Royal Family Office and expressed its ambition to become a bridge for Korea-Arab business.

Photo by Eight One

The commemorative briefing held on the 8th at the Gangnam Chosun Palace Hotel was attended by 8town CEO Jin-yeop Lee, Middle East Investment Chairman Bruce Jung, Sheikh Ahmed bin Faisal Al Qasimi of the UAE Royal Family Office, and many officials from major domestic companies.

The Royal Family Office is a global institution headquartered in Dubai, United Arab Emirates, conducting business in various fields such as real estate, energy, and investment. This visit to Korea was a return visit following 8town's visit to the UAE in July.

The UAE Royal Family Office delegation, which arrived on the 6th, held meetings with SC First Bank, Kim & Chang, and the office of National Assembly member Hyang-ja Yang. They also plan to carry out various schedules, including a field tour of the smart farm in Gangjin, Jeollanam-do. This is interpreted as the UAE Royal Family Office officially starting to expand its business in Korea.

Bruce Jung, chairman leading 8town’s global business, said, “The top priority project is the establishment of the Al Qasimi Korea office,” adding, “The Korea office will function as an international business hub, focusing on three major areas: STO (Security Token Offering), CBDC (Central Bank Digital Currency), and smart defense, connecting Korea-Arab business.”

Amid growing interest in the joint business promotion between the UAE Royal Family Office and 8town visiting Korea, 8town’s three major business areas were also introduced.

Kang Man-su, executive director leading the defense business, revealed 8town’s technological capabilities and achievements, having developed integrated system support, technical manuals and electronic technical manuals, and maintenance training equipment over a long period. He said, “We have developed manuals and training simulators for weapon systems with excellent performance such as combat ships, domestically developed guided weapons, and T-50 and FA-50 fighter jets,” adding, “We are strategically partnering with capable domestic defense companies and expanding participation in overseas export projects in Indonesia, Malaysia, Poland, and others.”

Director Joo-hyung Lee, who oversees the content business, showcased XR content that vividly delivers actual tactile sensation, electrical stimulation, and heat sensation. He announced plans to produce a more user-friendly portable package in the future. He also introduced the metaverse platform MOIM, mentioning 8town’s pursuit of a metaverse that utilizes blockchain-based strong security features, generative AI technology for meta-humans, and multilingual translation.

Vice President Sang-il Park, who leads the STO business, introduced 8town’s token securities platform. The 8town STO standard platform is an integrated STO platform providing issuance and distribution functions of token securities, characterized as a multi-core platform supporting both Hyperledger Besu and Hyperledger Fabric. Vice President Sang-il Park said, “It is possible to identify problems in advance and seek solutions, reducing trial and error before the main business starts. We plan to collaborate with many companies interested in issuing token securities.”

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