Hyungji Global announced on the 9th that it will establish a local corporation in Singapore this second half of the year to accelerate its global business expansion and digital asset business.
The new corporation will serve as a foothold for Hyungji Global’s entry into the Singapore and Southeast Asian markets for the global luxury brand “Castelbajac,” which holds trademarks worldwide. It will also be operated as a key hub for stablecoin issuance and building a digital ecosystem. The company noted that it was inspired by the fact that the Singapore government established the world’s first stablecoin regulatory framework.
In related news, Vice Chairman Choi Jun-ho visited Singapore on the 4th and met with the Asia-Pacific branch of the global digital asset security company “Ledger” and DBS Bank, Singapore’s largest commercial bank.
Additionally, Hyungji Global will strengthen collaboration with “Crocodile International,” which has a distribution network in Singapore and over 10 Southeast Asian countries. It plans to establish a cooperative system that shares customer engagement strategies, as well as design, marketing, and regional operational know-how.
A representative from Hyungji Global said, “By establishing a strategic base in Singapore, a global business hub, we plan to secure the global expansion of Castelbajac and the future competitiveness of our digital asset business,” adding, “We will quickly and accurately fulfill Hyungji Global’s role as a spearhead in realizing global corporations.”