Corporate giant Hankook enters NFT market

Hankook’s entry into the NFT and cryptocurrency market is the latest news that shows that more and more companies and organizations are entering the vibrant digital marketplace.

Corporate giant Hankook is entering the NFT and crypto markets

Hankook Technology, a South Korean conglomerate and part of a group of companies that includes one of the world’s largest tire manufacturers (Hankook Tire & Technology), has announced that it will expand to tokens, cryptocurrency and non-fungible (NFT).

According to Fn News, the business team will announce its plans at a meeting on December 24th at its headquarters in Jung-gu, Seoul.

The company said it will pursue deals “with NFTs and cryptocurrencies” and is trying to tie the switch to its real estate business. The company plans to create real estate “broker and transaction” services with “blockchain and cryptocurrency” capabilities and “blockchain” related real estate “development” business avenues.

The company’s CEO was quoted as follows:

“This is the first time a company has combined real estate sales and cryptocurrency. This new sales model will be a game changer in the future sales market. “

Hankook enters the NFT and crypto markets amid the growing NFT environment

Hankook Technology plans to issue NFTs, or a cryptocurrency, that will allow the parties to pay for construction, contract and asset sale costs, and plans to hire a new director – an “expert” who could “combine cryptocurrency with market real estate sales.” ”

Hankook has achieved considerable success with its non-core businesses in the past few months. As a minority shareholder in Daewoo Shipbuilding & Marine Engineering (DSME), a troubled shipbuilding company that struggled after a 44.7% drop in sales in the first half of 2021, Hankook has transformed into a company. DSME is now hoping to merge with a competing domestic shipbuilder if it can overcome regulatory difficulties with EU antitrust law.

Other Korean companies doing NFT-related businesses have seen a boost in the past few days. Earlier this week, the top financial regulator announced that it did not consider NFTs to be cryptocurrencies and hinted that they did not intend to tax them under the new Capital Gains Tax Act.

Meanwhile, NCSoft, the game maker behind the Lineage titles, recently announced plans to launch a game with NFT next year – Bloomberg reported that the new game helped push the share price to a record 30% and to bring it “to the highest level” since August “.

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