Metaverse riches lure one of South Korea’s oldest conglomerates

SK Square is moving swiftly in a bid to avoid falling behind younger, nimbler competitors: it bought a 35% stake in a crypto exchange last month and one of its affiliates is planning to issue a coin in the first half of next year, Huh said. — AP

One of South Korea’s biggest conglomerates with roots firmly in traditional industries is taking a leap into the unknown with its next target for growth: the metaverse.

SK Square Co, the investment arm of the massive SK Group spun off into its own stock last month, wants every portfolio company to have a metaverse presence, Managing Director Huh Seok-joon, 48, said in an interview. Their customers should be able to use cryptocurrencies for shopping, streaming media and other transactions with the metaverse community, he said.