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Thursday, April 18, 2024

South Korean Blockchain Leader to Open Global Headquarters in Abu Dhabi


South Korea’s leading blockchain technology company, Neoply, is setting up its global headquarters in the Abu Dhabi Global Market (ADGM), reflecting the UAE capital’s appeal to innovation-driven companies.

Neoply is joining the Abu Dhabi Investment Office (ADIO)’s innovation program, which supports the growth of technology-focused industries in the UAE capital. A statement from the Abu Dhabi Media Office said its global headquarters in ADGM will be called H-Lab and will benefit from the international financial center’s advanced regulatory framework and thought leadership in the field of virtual assets.

In recent years, Abu Dhabi has proven to be a popular destination for Korean innovative companies.

To support investors, ADIO opened an office in Seoul in 2021 and is working with companies such as Bespin Global, H2O and K-BTS Consortium to establish or expand its Abu Dhabi presence.

Founded in 2018, Neoply is the blockchain division of Neowiz Holdings, a well-known Korean game company. The company will create dedicated jobs in blockchain technology and further promote the industry in the UAE capital and beyond.

H-Lab will also work with Abu Dhabi University to develop projects and scholarships related to Blockchain, Web 3.0 and DeFi.

ADIO’s AED2 billion innovation program supports businesses in sectors such as agtech, financial services, health services and biopharmaceuticals, ICT, industry and tourism.

(Writing by Saipan Scalia; Editing by Daniel Lewis)



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