BUSAN < invest Korea

According to Yonhap News,

Busan Metropolitan City announced on June 11 that fomer Facebook's CMO Randi Zuckerberg, currently CEO of Assemblestream is to establish a corporation in Busan and invest in media contents startups.

She is also a sister of Facebook's CEO Mark Zuckerberg.

She met with Busan mayor at NURIMARU APEC House to discuss vitalization of the blockchain industry and cooperation with Busan city.

On the occasion, she said she will establish a Special Purpose Vehicle (SPV) of her company, Assemble Stream, specialized in contents utilizing blockchain technology, in Busan.

Based on this corporation, she will pursue to support and foster startups, spread technologies, and invest in promising enterprises by connecting NFT (Non-Fungible Token) with contents using metaverse, AR, VR, and blockchain technologies.

She will become the largest shareholder of this SPV, while domestic companies participating as joint operators.

Busan City requested CEO Zuckerberg to revisit Busan in July-August to have follow-up working level discussion and sign an agreement for a corporate establishment.

Zuckerberg, who showed a great interest in blockchain technologies like NFT and cultural contents, suggested measures to foster the cultural industry by applying new technologies to K-POP, and highly regarded the infrastructure and growth potential of Busan City.

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Source:Yonhap News (June 11, 2021)