Koscom, the financial IT company majority-owned by the Korea Exchange, is creating a blockchain solution for unlisted securities. On August 6th Koscom
announced it will be working with five companies to develop the platform. They are Korea Accelerator Association, KEB Hana Bank, Hana Financial Investment, Techno Park and Amicus Rex.
The Korea Exchange owns 76.6% of Koscom, with 8% held by Korea Securities Depository and the balance held by 14 securities companies. “Constant innovation” is part of Koscom’s mission.
The distributed ledger (DLT) platform will target unlisted SMEs and is slated to launch in the second half of 2019. Koscom says the benefits are to reduce the burden of managing shareholder lists and provide peace of mind to investors because of greater transparency. The ultimate aim is to increase startup funding.
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