Hyungji Global Accelerates Digital Asset Business with Establishment of Singapore Subsidiary
Stablecoin Issuance
Castelbajac’s Key Hub for Southeast Asian Expansion
On July 9, Hyungji Global announced that it will establish a local subsidiary in Singapore in the second half of this year to accelerate its global business expansion and to launch its digital asset business, including stablecoins, in earnest.
Hyungji Global selected Singapore as a key hub for stablecoin issuance and the development of a digital ecosystem, noting that the Singaporean government has introduced the world’s first regulatory framework for stablecoins. In addition, the company plans to use the new subsidiary as a bridgehead for the Southeast Asian market entry of its global brand ‘Castelbajac’, which holds worldwide trademark rights.
In relation to this, Vice Chairman Choi Junho visited Singapore on July 4 and held separate meetings with the Asia-Pacific office of the global digital asset security company Ledger and with DBS Bank, Singapore’s largest commercial bank.
Hyungji Global also plans to strengthen its partnership with Crocodile International, which has a distribution network in Singapore and more than 10 Southeast Asian countries, to build a collaborative system that expands customer touchpoints and shares expertise in design, marketing, and regional operations.
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A Hyungji Global representative stated, “By establishing a strategic base in Singapore, the global business hub, we aim to drive the global expansion of Castelbajac and secure the future competitiveness of our digital asset business. As a vanguard in realizing a global enterprise, Hyungji Global will continue to act swiftly and accurately in fulfilling its role.”
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