<p>Dunamu, the operator of South Korea’s largest cryptocurrency exchange Upbit, has <a href="https://www.decenter.kr/NewsView/29VX3RM1MG/GZ03" rel="noopener noreferrer nofollow">implemented</a> leadership changes at its blockchain research arm, Lambda256. That’s according to a report by local media outlet Decenter.</p><h2 id="header-0">Co-leadership structure</h2><p>Starting this month, Lambda256 welcomes a co-leadership structure, with tech maven Chung Ui-chung and financial specialist Park Yong-shin stepping in as co-CEOs. Each CEO holds independent signing authority. Chung previously held the role of Chief Technology Officer (CTO) at internet messaging giant Kakao, while Park Yong-shin boasts a distinguished career in public administration and finance, having passed the civil service examination and later steering the helm at Heungkuk Investment Trust Management, currently known as Heungkuk Asset Management.</p><h2 id="header-1">Tech expert and gov’t affairs specialist</h2><p>The reshuffle follows the departure of former CEO Park Jae-hyun, who resigned last month. Shedding light on the division of roles, a Lambda256 official mentioned that Chung will spearhead practical endeavors, whereas Park Yong-shin will liaise with government sectors. Industry analysts perceive this strategic move as Lambda256’s intensified drive to hone its technological edge and navigate the evolving government regulations surrounding security tokens and associated blockchain ventures.</p><p>Dunamu, holding a dominant 60.6% ownership in Lambda256, established the company in 2018, entrusting the leadership to Park Jae-hyun, a former employee of SK Telecom and Samsung Electronics. The subsequent year saw Lambda256 evolve into a subsidiary, rolling out blockchain platforms like Luniverse. However, financial challenges loomed, with the firm recording net losses of KRW 2.1 billion ($1.6 million) in 2020, KRW 3.7 billion in 2021, and KRW 46.5 billion in 2022.</p>

Dunamu Restructures Leadership at Its Blockchain Research Arm

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