The Dubai Multi Commodities Centre, one of the biggest free trade zones in the world, signed agreements with governments and companies in South Korea to bring more Web3 and metaverse businesses to the emirate. The objective of this move is to consolidate the status of Dubai as an international blockchain hub in the region.
Dubai Free Trade Zone Inks Web3 and Metaverse Partnership With South Korean Entities
Dubai is working to solidify its image as a worldwide decentralized tech hub. The Dubai Multi Commodities Centre, one of the biggest free trade zones in the region, has signed several partnerships with South Korean entities as part of the expansion of Dubai’s business in the Web3 industry.
The zone, which is owned by the government of the emirate and has registered more than 20K companies in total, inked these partnerships as the culmination of a series of roadshows made in several cities in Korea. These memorandums of understanding (MoU) were signed with the Korea Blockchain Industry Promotion Association (KBIPA) and Seongnam City, a city with an important base of tech consortiums.
As part of these agreements, the Dubai Multi Commodities Centre commits to support the establishment of Korean companies in the Web3 and…