Dunamu to Invest 100 Billion KRW in ESG Management by 2024

Planting Trees and Providing Scholarship Support

[Asia Economy Reporter Minwoo Lee] Dunamu, the operator of Upbit, the largest cryptocurrency exchange in Korea, will invest 100 billion KRW by 2024 for ESG (Environmental, Social, and Governance) management.

Dunamu announced on the 28th that it has decided to invest 100 billion KRW by 2024 for ESG management and has selected three core keywords: 'Namu', 'Youth', and 'Investor Protection'.

This reflects the values of blockchain technology?'decentralization', 'distribution', and 'consensus rules'?ahead of the establishment of the ESG Management Committee in 2022. Under the slogan "Nurturing future generations with technology that benefits the world and finance that empowers (tentative)," Dunamu plans to realize three core ESG values: 'Collaborative Climate Action', 'Coexisting Digital Financial Technology', and 'Responsible Management and Transparent Governance'.

In the environmental sector, Dunamu plans to conduct large-scale tree planting to create a 'Forest of Hope' in areas severely affected by wildfires and desertification, which are worsening annually amid the climate crisis.

In the social sector, the focus will be on nurturing future generations and creating social value through finance and technology. Dunamu will support and foster blockchain-related talent development as well as social value discovery projects through industry-academia cooperation.

As the first program of 'Coexisting Digital Financial Technology,' Dunamu will launch a support project next month with the Korea Student Aid Foundation to help young people recover their credit. With a total investment of 7 billion KRW, the project will assist long-term delinquent borrowers who have student loans and have been diligent in repayment by enabling lump-sum repayment and providing tablet PCs and digital devices necessary in the non-face-to-face era.

Additionally, to practice 'Responsible Management and Transparent Governance,' Dunamu will establish an ESG Management Committee. Chaired by Song Chi-hyung, Chairman of Dunamu’s Board of Directors, the committee is scheduled to be officially launched in the first half of next year.