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Business & Finance

First Digital Asset Recognised for Its Business Concept in South Korea

SEOUL, South Korea

With the recent appointment of the new President, the excitement around digital-assets in South Korea have continued to grow. One of the digital assets reaching new heights is Nagaya (NGY), which has achieved a new milestone with the Grand Prize Award in the field of Nickel Industry (IT Digital Asset) at the 25th Jang Young-sil International Science and Culture Award, held on 22 April 2022.

The Jang Young-sil International Science and Culture Awards ceremony was established in March 1999 to honor Jang Young-sil, one of the greatest inventors in South Korean history. This award was held to honor those innovators whose product or process made an outstanding advancement and provide value to the general public.

This award is highly anticipated due to its significance on innovation and research in the country and attended by the Ministry Board of South Korea, including the Former Prime Minister, Dr. Lee Soo Sung. While past recipients include prominent figures such as Dato Lee Yee Cheong from Malaysia and Professor Kang Sung Mo from South Korea.

Nickel is available only in a few countries and slowly becoming an essential resource in our lives. High entry barriers to nickel mining have hampered numerous corporations from operating them. However, Nagaya has utilized business in Nickel Resource to support its Hybrid Digital Asset Concept. With this, Nagaya is pioneering the path towards Industry 4.0.

The award was received by CBDO of Nagaya Technologies, Mr. Jung Heechul, on behalf of the CEO, Mr. Yorath Yohannes Tjandra who was unable to attend the event. “It was a great honor to get this award, and this definitely represents a significant step in the development of Nagaya going forward.”

Along with this award, Nagaya has also signed an MOU with Sesung Co. Ltd, in which Nagaya(NGY) will be utilized as the official payment method in P4 Lala Square, a shopping center currently constructed in the new administrative capital of South Korea, Sejong City. Nagaya has also planned to roll out its new payment platform called “Nagaya Pay Partner,” whereby Nagaya (NGY) will be accepted as a payment method by participating merchants under the Korean Micro Enterprise Association.

“It is a wonderful accomplishment, but we still need to work hard,” said the CEO, Mr. Tjandra when interviewed after the event. Nagaya is the first Digital Asset Company to receive this award.

SOURCE: Nagaya Technologies Pte Ltd

Source: Nagaya Technologies Pte Ltd