Abu Dhabi: South Korean blockchain technology company Neoply is to establish its global headquarters in Abu Dhabi with support from the Abu Dhabi Investment Office (ADIO), the company announced on Monday. Neoply will join ADIO’s Dh2 billion Innovation Programme, which supports the growth of tech-focused industries in the UAE capital.
Founded in 2018, Neoply provides a decentralised finance (De-Fi) platform and various services based on blockchain technology. It is the blockchain arm of Neowiz Holdings, a prominent South Korean gaming venture. The company’s global headquarters in Abu Dhabi Global Market (ADGM) will be called H-Lab. The company will create specialised jobs in blockchain technology and it hopes to benefit from the international financial centre’s advanced regulatory framework and thought leadership in virtual assets.
Abdulla Abdul Aziz AlShamsi, Director General of ADIO, said, “Neoply joins a wave of other innovative South Korean companies choosing Abu Dhabi as the catalyst for their next growth phase. They are joining a thriving innovation ecosystem and bringing new ideas and solutions to life in the UAE capital.”
H-Lab will also work with Abu Dhabi universities to develop programmes and scholarships related to blockchain, Web 3.0, and De-Fi.
Jinho Park, Chief Operating Officer of Neoply, said, “With the active support of ADIO, the collaboration with ADGM, and the infrastructure of Abu Dhabi, we are committed to setting new standards in the global blockchain industry.”
Abu Dhabi has become a popular destination for innovative South Korean companies recently. ADIO opened an office in Seoul in 2021 and has worked with companies, including Bespin Global, H2O and K-BTS Consortium.
