The visit, organized by the university’s Graduate School of Venture Studies and its Spatial Management Research Lab, replaced a traditional end-of-year ceremony. Instead of a banquet hall, the gathering took place in one of Seoul’s most marginalized neighborhoods — a reminder that not all parts of the global city share in its prosperity.

More than 20 participants, including current and former master’s and doctoral students, delivered 1,000 briquettes to energy-vulnerable households. For many residents, the briquettes remain a primary source of heat during winter months.

Guryong Village, tucked away in the affluent Gangnam district, emerged in the late 1980s as displaced families settled on unused land amid rapid urban development. Over decades, the settlement grew into what is often described as Seoul’s last large shantytown — a stark contrast to the high-rise apartments and glass towers nearby.

Though a large-scale redevelopment plan has now been approved, daily life in the village remains precarious. Aging infrastructure, steep alleys, and an elderly population have long raised concerns about safety and energy poverty, particularly during extreme weather.

“For students who study space, cities, and development, it’s important to confront the realities that exist beyond planning documents and investment maps,” said Professor Lee Jae-soon, who led the initiative. “We wanted to understand space not as an abstract concept, but as a lived environment.”

Professor Lee emphasized that urban value cannot be measured solely by land prices or architectural form. “A space becomes meaningful only when the lives within it are warm and dignified,” he said. “We hope this small act helps residents endure the winter, and reminds us of our responsibility as scholars.”

Participants described the experience as a lesson beyond the classroom. Carrying briquettes up steep slopes, they spoke with residents who have lived in the village for decades, many of whom expressed uncertainty about what redevelopment will bring.

Urban researchers note that Guryong Village reflects a broader challenge facing global cities: how to reconcile redevelopment with social continuity. While new housing may improve physical conditions, the transition period often leaves residents vulnerable.

By choosing Guryong Village as the site of its year-end gathering, the Hoseo University group sought to connect academic inquiry with civic engagement. The effort, organizers said, is part of a broader commitment to social contribution that extends beyond a single event.

As Seoul continues to remake itself, the quiet exchange of warmth in Guryong Village offered a different measure of progress — one defined not by skyline changes, but by human connection.

Under the newly inked Team Agreement, ProtoTy will collaborate with MYBIG to jointly supply innovative AI solutions throughout Malaysia and Indonesia, leveraging MYBIG’s extensive regional sales channels. The two firms aim to combine ProtoTy’s advanced AI technology with MYBIG’s strong local networks to enhance competitiveness and deliver smart-solution services to government-linked and enterprise-level projects.

“This partnership with MYBIG marks a key milestone in demonstrating ProtoTy’s technological competitiveness across Southeast Asia,” said Park Seung-hyun, CEO of ProtoTy. “We plan to accelerate our localization efforts and provide more innovative AI-driven services to customers in the region.”

MYBIG CEO Kong Chia-hing echoed the sentiment, noting that MYBIG is “deeply confident in ProtoTy’s AI expertise” and intends to “lead the digital transformation of the local market through a strong and sustainable collaboration.”

Founded by IT professionals with more than 15 years of overseas experience, ProtoTy operates development hubs in South Korea, Vietnam, and Uzbekistan, employing a global workforce of over 2,000 engineers. The company offers AI-based outsourcing and developer subscription services, allowing clients to scale technical resources flexibly. Its flagship platforms include ProtoTy AI, an intelligent talent-matching service, and ProtoTy Academy, an online learning and content-creation hub that connects skilled professionals worldwide.

ProtoTy also collaborates with Uzinfocom, Uzbekistan’s national IT enterprise, on a suite of next-generation digital healthcare solutions — including a unified electronic medical record (EMR) system, MyID biometric authentication, and palm-vein and facial-recognition access technologies — slated for upcoming deployment in both South Korea and Malaysia.

The partnership with MYBIG cements ProtoTy’s growing presence in Southeast Asia and signals a broader regional ambition: to become a core enabler of government-led AI innovation and smart infrastructure across emerging markets.

MIMOS, operating under Malaysia’s Ministry of Science, Technology and Innovation (MOSTI), is the national-applied research and development centre responsible for advancing digital infrastructure and technological innovation across the country. The agency functions as a key node in Malaysia’s ambition to become a regional digital hub.

During the visit, ProtoTy presented a range of its AI-based smart services and advanced digital solutions. Alongside the MYBIG team, the company engaged in wide-ranging discussions with MIMOS officials about potential joint-initiatives. Among the highlighted capabilities were its experience in biometric access systems developed in collaboration with Uzbekistan’s state IT company Uzinfocom and its integrated digital hospital project — both cited as demonstration models of government-digital transformation alliances in emerging markets.

The impetus, according to ProtoTy, is to leverage these proof-points and elevate the cooperation with MIMOS to a new level. As a symbol of the burgeoning relationship, MIMOS awarded ProtoTy a “Best Compliment” plaque — an official acknowledgment of the company’s contribution to local digital innovation. The recognition is expected to lay the foundation for broadening the partnership further.

In a parallel development, MYBIG presented ProtoTy with a gratitude plaque for its collaboration in the recent Malaysia Ministry of Education event held in South Korea, underscoring the bilateral dimension of the Korea-Malaysia cooperation in education and digital transformation.

Speaking on the occasion, CEO Park remarked: “Our cooperation with MIMOS represents a meaningful first step as we lead global convergence business at the heart of Southeast Asia’s digital innovation cluster. To expedite commercialization, we will continue regular remote meetings and technical exchanges with MIMOS, MYBIG and Uzbekistan’s Uzinfocom.” Looking forward, ProtoTy plans to work with its partners in Malaysia and Uzbekistan to identify and pilot various innovation models applied to government projects and international digital-transformation efforts.

The visit and the ensuing agreements reflect a broader trend: Korean AI-tech firms increasingly view Southeast Asia not only as a market but as a partner in co-creating next-generation digital solutions tied to public-sector transformation. The collaboration between ProtoTy and MIMOS may thus signal the emergence of a new regional axis of AI-based innovation bridging East Asia and Southeast Asia.

With an iconic K-pop girl group 2NE1 confirmed as the first lineup, excitement is already building for WATERBOMB BALI 2025.

According to the local concert organizer WAAO, the upcoming WATERBOMB BALI 2025 will be the first large-scale K-pop music festival ever held in Bali. The participation of 2NE1—comprising four members of Sandara Park, Park Bom, CL, and Gong Minzy—is particularly significant, as it heralds the beginning of this landmark event. The organizer also noted that final preparations are underway, with more performers to be announced progressively as they are confirmed.

Park Jae-hyun, CEO of WAAO, commented on 2NE1’s appearance, saying, “The Bali festival was made possible by requests from numerous Blackjacks (2NE1’s fandom), and this performance will go beyond just a concert to be remembered as a historic moment created by the fans themselves.” He further highlighted the enthusiastic response from local fans, noting, “In November 2024, 2NE1 held the 2024-25 2NE1 ASIA TOUR [WELCOME BACK] concert in Jakarta, Indonesia, to celebrate their 15th debut anniversary. Back then, the concert sold out immediately with fan demand so high that the one-day event was extended to two days.”

Park raised expectations by saying, “The WATERBOMB festival this time will go beyond a simple performance and feature leading Korean brands in beauty, fashion, food and beverage, healthcare, and more. We are also developing the K-City Project, which will bring K-pop content to every corner of Bali, including the airport, hotels, shopping malls, and city-wide advertisements, with K-pop content.”

WATERBOMB is a global music festival that blends water, music, fashion, and passion, and has sold out in every major city it has toured, including Seoul, Tokyo, Bangkok, Hong Kong, Taipei, Singapore, and Manila.

By Samuel Chung [ten@tenspace.co.kr]

SEOUL, South Korea — April 16, 2025

In a significant move that signals South Korea’s growing ambitions in the digital asset space, the Korea Digital Asset Forum (KoDiA) was launched Thursday at Seoul National University, bringing together key figures from across the financial technology landscape.

The inaugural seminar, themed “Building a Sustainable Future for Digital Assets Together,” drew a diverse crowd of industry experts, academics, legal professionals, and policymakers, all united by a common goal: positioning South Korea as a global leader in the rapidly evolving world of digital finance.

“We stand at a critical juncture where global financial structures are being fundamentally reshaped by digital innovation,” said Eun-seok Gu, chairman of KoDiA Forum and CEO of legal AI firm Seoul Robot, during his keynote address. “This forum aims to create a transparent ecosystem and establish institutional frameworks aligned with international standards to enhance our global competitiveness.”

The forum comes at a pivotal moment as digital currencies increasingly gain mainstream attention worldwide. South Korea, with its tech-savvy population and advanced digital infrastructure, has been both a hotbed for cryptocurrency trading and a cautious regulator trying to balance innovation with investor protection.

Representative Min-gyu Park emphasized the legislative perspective, pledging to “develop balanced regulations that both support innovation and ensure market stability.” His remarks reflect the delicate balancing act facing lawmakers globally as they grapple with regulating an industry that moves at breakneck speed.

The seminar featured substantive presentations on emerging trends, including an analysis by Jin-seok Go, co-founder of BlockESG, who detailed the global digital currency landscape. Go particularly focused on the recent launch of the “USD1″ stablecoin by the Trump administration, describing it as “a strategic move to extend dollar hegemony into the digital realm” rather than merely another cryptocurrency entry.

Of particular interest to international observers was Steve Young Kim’s presentation on Binance’s strategy for the Korean market. As a director at the world’s largest cryptocurrency exchange, Kim provided data showing how recent U.S. tariff policies have affected digital asset markets differently than traditional investments, with crypto assets falling nearly 26% while gold rose over 10% following the “Liberation Day” tariff announcements.

“In this stagflationary environment, Bitcoin has demonstrated relative stability compared to altcoins, though it remains vulnerable to broader financial market turbulence,” Kim noted, before outlining Binance’s plans to adapt to Korea’s evolving regulatory framework.

The KoDiA Forum has articulated three core visions: developing South Korea’s domestic digital asset industry, strengthening global competitiveness, and realizing technological innovation with financial inclusion. Its practical focus will include policy recommendations, legal and regulatory analysis, and the development of integration models between digital and physical assets.

Professor Kyung-min Kim of Seoul National University’s Urban Planning Department concluded the event with a forward-looking assessment of how digital assets might transform not just finance but urban infrastructure, real estate, and public services.

“Digital assets will be catalysts for new value creation across multiple sectors,” Kim said. “Sustainable development requires not just technological innovation but institutional frameworks based on social consensus.”

As central banks worldwide, including the Bank of Korea with its “Digital Test Project Hangang,” explore central bank digital currencies (CBDCs) and regulatory bodies develop frameworks for private stablecoins, the KoDiA Forum appears well-positioned to influence policy directions in what has become one of the world’s most dynamic cryptocurrency markets.

With plans for regular seminars, research publications, and international networking, South Korea’s newest think tank has set ambitious goals to help the nation navigate the complex intersection of technological innovation, financial stability, and global competitiveness in the digital asset space.

Titled “AI and ESG: The Future of Legal Collaboration”, the event was co-hosted by the ESG Social Innovation Center at Seoul National University and SeoulLawBot, a rising AI legal services company. The gathering took place at the university’s Graduate School of Environmental Studies and tackled urgent societal issues — such as rental fraud and legal inequality — through the lens of emerging technology.

“AI lawyers have the potential to significantly enhance access to justice, especially for working-class citizens who are often left behind by the traditional legal system,” said Professor Kim Kyung-min of SNU. He underscored the need for innovation in legal accessibility.

Professor Bae Ki-chul of Kyung Hee University echoed that sentiment, emphasizing that AI legal services could also serve the public interest by bridging critical service gaps.

From the industry perspective, Lee Young-tak, Executive Vice President at SK Telecom, stressed that the advancement of AI in the legal domain requires not only robust infrastructure but also a cultural shift in how the public perceives legal technology. “We must ensure society is ready to trust and embrace this innovation,” he said.

Ku Eun-seok, CEO of SeoulLawBot, framed the issue succinctly: “There are many lawyers in Korea, yet many people still struggle to get legal help. AI lawyers are not here to replace professionals but to complement them.” He pointed to the AI’s role in preliminary consultations, where it provides essential guidance before human lawyers step in.

Co-founder Koh Jin-seok added that the government must play an active role — not just in fostering AI legal startups, but also in adjusting regulations to accommodate and guide this emerging industry.

As South Korea explores AI’s role in the public sector, this seminar marks a pivotal step in redefining how law can serve society in the digital age. The question is no longer whether AI belongs in the courtroom — but how fast we can build a system where it can make a difference.

The announcement came during a ceremony held in collaboration with The Better World, an incorporated association dedicated to fostering social entrepreneurship and spearheading international development projects. “Despite challenges such as unfavorable exchange rates and cumbersome remittance processes in Malawi, blockchain allows us to transfer funds transparently and efficiently,” said Block ESG CEO Kang Bong-jun. He expressed hope that the scholarship would transform the school into a model of educational excellence and economic independence.

At the heart of this initiative is Jalira Girls National Secondary School’s mission to broaden access to quality education and empower its students through vocational training and job opportunities within the community. Founder and longtime advocate Nurse Baek Young-shim, reflecting on three decades of service in Malawi, emphasized that sustainable change begins with education. “We believe that this scholarship will serve as a catalyst for change, paving the way for the next generation of Malawian women to realize their dreams,” she said.

The event also featured the signing of a memorandum of understanding between Block ESG and The Better World. The agreement formalizes their shared commitment to alleviate poverty and promote self-reliance through collaborative, technology-driven projects. Executive Director Kim Bu-yeol of The Better World described the scholarship as “a precious opportunity to enhance Malawi’s educational landscape,” and confirmed plans to roll out similar initiatives across the continent.

Block ESG’s recent donation to Cambodia in January underscores its ongoing dedication to establishing sustainable models for international educational support. With its latest venture in Malawi, the organization is setting a precedent for how blockchain technology can redefine charitable giving in regions historically hindered by financial obstacles.

[Samuel Chung Journalist ten@tenspace.co.kr] The Seoul National University ESG Social Innovation Center announced that it will host the “Blockchain: Opening the Future (Korea’s Status and Future for the Globalization of the Blockchain Industry)” conference on Friday, January 17, 2025, from 2 PM to 6 PM (KST) at the Seoul Press Center. This conference is designed to diagnose the rapidly changing global virtual asset market and present strategic insights and future directions for the Korean blockchain industry.

The conference will proceed with two main agendas: ‘The Current Status and Future of the Korean Blockchain Industry’ and ‘The Current Status and Future of the Global Blockchain Industry.’ It is expected that in-depth discussions will take place on topics such as: reviewing domestic virtual asset regulatory policies and the current industry ecosystem; innovative use cases of blockchain technology and new business possibilities; analysis of blockchain strategies of major Asian countries; the background and impact of the surge in virtual assets and the strategic use of Bitcoin; and the implications of global industry trends for Korea.

In particular, prominent domestic and international experts will participate as speakers and panelists at this conference, leading to in-depth discussions.

Takeshi Chino, Representative of Binance Japan: Based on his traditional finance background, he will share expertise on financial regulations and present a vision for expanding the blockchain ecosystem gained through Binance’s experience entering the Japanese market.

Gabriella Kusz, Director of BlockFills: As an ESG expert, she will lead in-depth discussions on sustainability reporting, climate governance, and the convergence of blockchain and ESG.

Philip Gant, Director of APAC Policy & Partnerships, Global Blockchain Business Council (GBBC): As an expert in East Asian institutions, he will introduce GBBC’s work with policymakers around the world to understand and advance the blockchain ecosystem.

Professor Jae-woo Cho (Hansung University): Under the theme of “What Korea’s Blockchain Policy is Missing,” he will critically analyze the current state of domestic blockchain policy and propose directions for improvement.

Hun-jong Baek, CEO of SmashFi: Through a presentation on “Why Bitcoin Adoption is Necessary to Boost Korea’s Domestic Economy,” he is expected to spark discussions on the economic effects of Bitcoin adoption.

Attorney Jung-yeop Lee (President of the Blockchain Law Society): Under the theme of “Virtual Asset Industry Regulation and Innovation,” he will explore the current status of virtual asset regulation along with innovative ways for industrial development.

Professor Kyung-min Kim (Seoul National University): He will give a presentation on “Understanding Virtual Assets Since the Trump Administration.”

A panel discussion moderated by Young-eun Yang, a KBS reporter, will take place at the conference. The following experts are expected to participate in a lively discussion:

Steve Young Kim, Binance BD Director: With a background in New York securities, he is active as Binance’s East Asia Director.

Paul Koh, Co-founder of BlockESG: With experience as the former CTO of iLoveSchool, he is an expert in artificial intelligence, blockchain technology, and business planning.

Global Blockchain Business Council (GBBC) will also participate in this event, emphasizing the importance of international, public-private collaboration to push the dial forward in the blockchain industry. GBBC is dedicated to furthering the adoption of blockchain technology by convening regulators, business leaders, and global changemakers to foster collaboration, advance education, and elevate dialogue to create more secure, equitable, and functional societies.

Kyung-min Kim, a professor at Seoul National University who organized the conference, stated, “Amid the rapid growth of the global blockchain market, cooperative preparation between the government and industry is essential for the Korean virtual asset and blockchain industry to make a new leap forward.” He added, “We hope that this conference will serve as an opportunity to present visions and practical strategies for this preparation.”

By Samuel Chung Technology and Business Reporter Nov. 19, 2024

SEOUL, South Korea — In a crowded auditorium at Seoul National University’s Graduate School of Environmental Studies, Steve Young Kim, Binance’s Asia Pacific Director of Business Development, stood before an audience of academics and industry leaders. His message was clear: “Blockchain technology can be the salvation for the financially excluded.”

This bold declaration set the tone for a groundbreaking seminar titled “ESG Meets Blockchain,” where leaders in both fields gathered to explore how these two transformative forces might reshape the future of sustainable business practices.

The numbers are compelling. Binance’s charitable initiatives have already touched more than 2 million lives across 54 countries, with investments exceeding $23 million in 32 projects. But beyond the figures lies a larger vision of financial inclusion and transparency that blockchain technology promises to deliver.

“ESG is no longer optional in corporate management,” said Na Seok-kwon, director of SK Social Value Research Institute, emphasizing the need for quantifiable metrics in evaluating corporate sustainability efforts. This sentiment echoes growing global pressure for businesses to adopt measurable environmental, social, and governance standards.

The intersection of blockchain and humanitarian efforts was dramatically illustrated by Professor Kim Bu-yeol of Seoul National University, who shared his harrowing experience of facing life-threatening situations while attempting to transfer funds to developing nations. “The current system is broken,” he said, “but blockchain offers a way forward.”

The relationship between blockchain technology and practical applications was a central theme. “Just as Tether has demonstrated utility in transfers, practical applications will naturally drive adoption,” explained Professor Cho Jae-o of Hansung University, highlighting how technological advancement could accelerate mainstream acceptance.

However, amid the optimism, cautionary voices emerged. Professor Kim Kyung-min of Seoul National University warned about the potential for growing wealth disparities due to global liquidity expansion affecting asset prices, including cryptocurrencies. He also emphasized the need for both public and private sectors to remain vigilant about industry changes in the post-Trump era.

In a concrete example of blockchain’s potential for social impact, Ko Jin-seok, co-founder of Block ESG, detailed an ongoing microfinance project in Cambodia. The initiative, a collaboration with Seoul National University’s Graduate School of Environmental Studies, represents a practical application of blockchain technology in sustainable development.

“This is just the beginning,” Mr. Ko said. “The combination of blockchain transparency and ESG principles could revolutionize how we approach social impact and sustainable development.”

The seminar highlighted a crucial moment in the evolution of sustainable finance, where technology meets social responsibility. As businesses worldwide grapple with mounting pressure to demonstrate genuine commitment to ESG principles, blockchain technology offers a promising path forward, potentially transforming how we track, measure, and implement sustainable business practices.

For the global financial community, the message from Seoul was clear: the future of sustainable finance might well lie at the intersection of blockchain innovation and ESG principles. The question now is not if, but when and how this transformation will unfold.

SEOUL — At a briefing held on June 18, the Bank of Korea (BOK) projected that consumer price inflation will decrease to the mid-2% range in the second half of 2024. This forecast comes as the first half of the year saw a 2.9% inflation rate, a slight decrease from the 3.3% recorded in the latter half of the previous year, yet still a notably high level. The overall price level remains elevated due to accumulated inflationary pressures since the pandemic.

However, core inflation has recently fallen to the low 2% range, and key indicators suggest that the overall inflationary trend is stabilizing. These factors indicate a gradual easing of price pressures.

The BOK anticipates that international oil prices and grain prices will continue to stabilize and that inflationary pressures from the demand side will remain subdued. Consequently, the central bank expects the inflation rate for the second half of the year to settle in the mid to upper 2% range. BOK Governor Changyong Lee stated, “Prices are expected to follow a gentle downward trajectory consistent with our May outlook. However, we remain vigilant given the uncertainties posed by geopolitical risks and changing weather conditions.”

The BOK particularly highlighted the potential volatility in agricultural prices due to climate change as a risk factor. Empirical analysis indicates that a 1-degree Celsius increase in average temperature could lead to a 2% rise in agricultural prices and a 0.7% increase in consumer prices in the long term. Additionally, the recent trend of some companies raising prices could further complicate the inflation outlook.

Governor Lee emphasized the need for a coordinated effort between the government’s structural reform initiatives and the BOK’s monetary policy to achieve price stability. He pointed out that the higher inflation rate and cost of living in Korea compared to other major economies are largely due to structural issues. Thus, the government needs to address fundamental weaknesses by diversifying supply chains and modernizing distribution systems. Meanwhile, the BOK must continue to implement monetary policy that considers macroeconomic conditions and financial stability.

“While monetary policy can address inflation, resolving the high price levels requires the government’s structural reform efforts,” said Governor Lee. “We will closely coordinate with the government in managing the inflation target.”

Market analysts view the BOK’s announcement as a comprehensive evaluation of inflation and a call for policy coordination. Experts advise maintaining policy flexibility and active communication with the government to manage inflation effectively amid complex domestic and international conditions.

Ultimately, the key is for the government and the BOK to work together to ensure stable price management. Effective management of market expectations and efforts to strengthen the economy’s resilience in the long term are crucial for achieving genuine price stability.

At this juncture, the BOK’s prudent yet proactive monetary policy approach, the government’s macroeconomic risk management, and close coordination between the two institutions are more important than ever. Proactive measures to address structural weaknesses and ensure effective policy implementation are essential for maintaining economic stability.