LG Electronics, the South Korean IT behemoth, has formally included cryptocurrency and blockchain technologies as new business sectors inside its corporate structure.
According to a local news source, LG has established two unique crypto-related goals during the latest annual general meeting on Thursday.
Expanding Through Crypto And Blockchain
It was claimed by a local South Korean news outlet on March 24 that LG has added two additional crypto-related goals to its annual general meeting agenda.
There will be a focus on the creation and marketing of blockchain-based technologies as well as the sale and brokerage of bitcoin.
LG’s recent declaration has caused some to speculate if the corporation will develop some type of crypto exchange or marketplace.
As of yet, nothing has been determined, according to a company spokeswoman who talked to local media outlets. According to sources, the organization has just specified business sectors to develop globally.
LG and NFT
In line with the growing popularity of cryptocurrencies and blockchains in South Korea, LG has made a slew of announcements.
LG cooperated with an online art auctioneer to carry out future initiatives relating to NFT artworks. With the help of a blockchain firm named Kakao’s Ground X, LG also released smart television sets with NFT options last month.
South Korea is focusing on crypto growth
Adding to South Korea’s crypto growth, the nation elected a crypto-friendly president, Yoon Suk-yeol, earlier this month. Yoon’s election campaign was built on deregulating South Korea’s cryptocurrency business.
Aside from this, Yoon Suk-yeol has declared that the nation would become a “unicorn” in the world of blockchain technology via the establishment of several cryptocurrency ventures.