Korea’s FSN Invests $3.7 Billion in T Scientific to Jointly Enter Web3 Business
Korea-based FSN today announced an investment of $3.74 million in T Scientific to collaboratively pursue blockchain business initiatives.
Korea-based Future Innovation Company (FSN) today announced an investment of approximately $3.74 million (5 billion Korean Won) in the 18th convertible bond issued by T Scientific, an IT total service company.
According to the announcement, this move is accompanied by the establishment of a cooperation system where both companies will collaborate to pursue blockchain business initiatives.
T Scientific, known for its range of IT services spanning mobile commerce, information protection, system integration, ITO and cloud services, will join hands with FSN to jointly promote blockchain endeavors. The collaboration builds upon previous ties, with T Scientific’s participation in FSN’s 12th CB.
“We are establishing cooperative partnerships with various companies to grow new businesses centered on tech and commerce into our main businesses, and we can create various synergies with T Scientific as a mutual investment partner beyond simple cooperation,” said Lee Sang-Seok, CEO of FSN.
“In particular, since T Scientific holds significant shares in Korea’s leading virtual asset exchanges such as Hanbitco and Bithumb, we expect it to be a great help to the Web 3.0 platform and STO business that FSN is promoting,” he added.
Working to Fortify Web3 Businesses for Future
FSN views T Scientific’s blockchain and mobile commerce-related infrastructure as an asset in expanding its new business ventures. T Scientific, being the largest shareholder of Hanbitco and the third-largest shareholder of Bithumb, holds the potential for collaboration in various fields with FSN’s Web 3.0 business in the future.
Additionally, T Scientific’s mobile commerce capabilities are expected to synergize with FSN’s next-generation commerce initiatives conducted through its subsidiary, Boosters.
The partnership aligns with FSN’s broader business strategy of converting future innovation into its main business focus. In the tech sector, FSN is actively launching platforms that bridge online and offline Web 3.0 industries, while also venturing into the Security Token Offering (STO) business.
On the commerce front, the company is rapidly improving brand aggregation business efficiency and performance through the introduction of AI advertising production services and short-form creation services.
As the companies embark on this mutual investment journey, eyes will be on how the collaboration unfolds and the impact it brings to the evolving landscape of blockchain technology and commerce.
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