The city of Busan in South Korea has signed a Memorandum of Understanding (MoU) with OKX Blockdream Ventures, the investment arm of crypto exchange OKX, to improve its blockchain sector.

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“As part of the agreement, the City of Busan will encourage investors to increase their investments in the Busan blockchain sector. Furthermore, the city of Busan will provide the necessary resources to attract large amounts of foreign capital for the development of the blockchain sector.”

Therefore, OKX Blockdream Ventures will boost the Busan city blockchain industry by recruiting top local talents and attracting global ones. In addition, it will provide marketing and media solutions.

Based on OKX Blockdream Ventures’ goal of driving cutting-edge blockchain innovations, it seeks to boost Busan’s local capabilities in this sector.

Dora Yue, founder of OKX Blockdream Ventures, noted:

“Through our leading position in the industry, we look forward to investing in promising and innovative blockchain projects in South Korea and actively promoting the development of the local blockchain industry.”

Through the strategic partnership, Busan will also gain long-term structural value. Heong-Joon Park, Mayor of Busan, added:

“We welcome venture capitalists on board in Busan and look forward to our future collaboration. We appreciate your active participation in building the Busan blockchain ecosystem. Together, we will help make Busan a specialized blockchain city.”

Busan has been collaborating with different crypto exchanges with the aim of boosting the digital asset space in the city.

For example, he signed a trade agreement with FTX to support the establishment of its own exchange called Busan Digital Asset Exchange in August, Blockchain.News reported.

As a result, the city of Busan would become a cryptocurrency hub that would attract worldwide attention based on a booming digital asset ecosystem. Additionally, blockchain-specific education would be promoted.

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