Mirae Asset Securities and SK Telecom sign security token MOU

Mirae Asset Securities headquarters at Guro District, western Seoul [MIRAE ASSET SECURITIES]

Mirae Asset Securities and SK Telecom are joining forces on security tokens.

They signed a memorandum of understanding to form the Next Finance Initiative, a security token consortium, aimed at boosting the sector in Korea, the investment bank announced Thursday.

The companies look forward to a synergy effect by combining Mirae Asset’s investment infrastructure and global network with SK Telecom’s technology and experience in operating various Web3 platforms.

The cooperation will lay the foundation for expanding the finance and information technology (ICT)-based Web3 ecosystem.

Mirae Asset plans to utilize the strengths of other companies that join the consortium to support the start and expansion of security token businesses, and attract investment from retail investors in the future.

The consortium will provide strategic and financial consultations for early projects and review follow-up assistance for continued value creation.

“The initiative will bring Mirae Asset Securities’ finance expertise and SK Telecom’s ICT and service operation experience together, and establish its presence as a global platform that leads the security token industry,” said Ahn In-seong, head of the Mirae Asset Securities digital division.

SK Telecom Executive Vice President Oh Se-hyun added that the security token initiative will set the stage for various Web3 projects.

BY SOHN DONG-JOO [sohn.dongjoo@joongang.co.kr]