Influential South Korean Actor Invests In Crypto Startup – Seamon

Amrit Mirchandani

March 14, 2019

A popular actor in the South Korean film industry, Bae Yong-joon has been reported to have invested in a Korean Cryptocurrency startup called Seamon. The news was disclosed from South Korean local news outlet Hankyoreh.

What is Seamon

Seamon is a startup by a Norwegian based company called Ocean Supreme known for exporting high-quality Salmon from Norway to Japan. It will utilise Blockchain and Cryptocurrencies in settling the global seafood transactions and sales. The project is aiming to make transactions transparent, reduce unnecessary expenses and achieve faster international transactions given that seafood is a highly exported item.

Blockchain is also known to make supply chains more efficient. One known example is Intel’s development of Sawtooth which tracks the supply chain of seafood from the catching in the ocean to being eaten at the table. Internet of things or better known as IoT sensors are used to track and estimate locations, temperatures, humidity, motion and even shocks. Such a use case is essential in ensuring the seafood is safely caught in regions where extinction is not taking place for the particularly caught seafood, and in providing that the seafood is fresh enough to be eaten.

Influence of Yong-joon for Korea’s Cryptocurrency market

Bae Yong-joon is famously known for his roles in movies such as Winter Sonata and The Legend. An actor of his recognition investing in the cryptocurrency sphere brings about trust and may lead to adoption amongst his fans.

The amount invested by Yong-joon is not disclosed; however, is said to be more than $10,000 but not in the tends of thousands in Dollars. He was initially interested in being a part of the team as an advisor however projected into becoming an investor. His main reason for investment in Seamon was an interest in the seafood industry.

Thus the change of sentiment in the South Korean Cryptocurrency market could change given that the bear market led to massive losses amongst ordinary citizens who invested hoping for a fortune.