Wemade Founder Park Kwan-ho Purchases 30 Billion KRW Worth of WEMIX Coins

Park Kwan-ho

[Asia Economy Reporter Kang Nahum] Park Kwan-ho, the chairman of the board and founder of Wemade, will purchase 30 billion KRW worth of Wemix. Wemix is a virtual currency issued by Wemade.

Wemade announced on the 10th, "Chairman Park plans to purchase approximately 30 billion KRW worth of Wemix tokens over the next six months starting today (the 10th)."

They added, "The Wemix tokens purchased by Chairman Park will be locked up for one year from the completion of the purchase," and "Once the purchase of approximately 30 billion KRW worth of Wemix tokens is completed within six months, the specific details will be announced immediately."

Chairman Park's decision to purchase Wemix is part of efforts to enhance its value. The price per Wemix token, which approached 30,000 KRW last November, has since declined repeatedly and is currently trading in the 2,700 KRW range.

Previously, CEO Jang Hyun-guk also purchased Wemix tokens on the 18th and 25th of last month using his salary and dividends to support the value of Wemix.

The company stated, "Wemix holds the position as the world's first and most innovative P&E platform, and the Wemix ecosystem is poised for significant growth," adding, "The token purchase decisions by Chairman Park Kwan-ho and the CEO reflect their belief in this growth and innovation."

They continued, "Going forward, we will strive to lead the market in the long term rather than being swayed by short-term results or volatile market conditions, and in the process, we will continue to establish partnerships and onboard games."