"A Gateway for Digital Transformation of Korean Real Estate and Global Market Expansion"

[By Kyunghwan Jung, Korea Financial News] Quantum Development announced on the 29th that it had signed a memorandum of understanding (MOU) with Malaysia's digital asset exchange, GreenX, for the digital liquidity of real estate.

The company explained, “Junha Lee, CEO of Quantum Development, met with Philip Tham, CEO of GreenX, in Seoul last month to discuss strategies for the global market expansion and digital liquidity of Korean real estate. They agreed to collaborate on tokenizing Korean real estate and listing it on GreenX’s digital asset exchange.”

This MOU aims to tokenize real estate using real-world assets (RWA) based on blockchain technology and list these tokens on the GreenX platform. The objective is to enhance the global liquidity and maximize the value of Korean real estate.

Philip Tham, CEO of GreenX, stated, “Korea has a stable and solid real estate market, and its advanced e-government system ensures a transparent and secure real estate registration system.” He added, “If Korea digitizes its real estate and other tangible assets to enter the global market, it will attract significant interest from international investors.”

After touring luxury residences and villas in Seoul, Tham praised Quantum Development’s expertise in the real estate market and its capabilities in structuring digital assets, noting that it aligns with GreenX’s strategic direction. He further expressed his intention to actively collaborate with Quantum Development to tokenize Korean real estate and list it on GreenX.

Quantum Development specializes in digital liquidity for real estate assets, undertaking the tokenization of tangible assets like real estate and listing them on digital asset exchanges. The company also operates a premium lifestyle platform called innoD. CEO Junha Lee is a seasoned real estate development expert, having previously served as the head of Daewoo Engineering & Construction’s New York office and its Housing & Architecture Division. He played a key role in developing Trump World Tower in New York alongside Donald Trump.

GreenX, a subsidiary of NASDAQ-listed Greenpro Capital, is the only real asset exchange in Malaysia authorized by the government as a digital asset exchange and certified compliant with Islamic Sharia law. This certification enables it to target a potential market of over 1.9 billion customers across Southeast Asia, Islamic countries, and the Greater China region.

Junha Lee emphasized, “We are working to promote the digital liquidity of Korean real estate assets by collaborating with GreenX, aiming to attract global investments into the Korean real estate market and activate digital asset trading.”

He added, “Korean real estate, in line with the nation’s global stature, needs to expand its international presence. Creating a framework for Korean asset holders and overseas digital asset exchanges to cooperate creatively and strategically will allow the Korean real estate market to align with global standards in digital transformation.”

Source: 퀀텀디벨롭먼트, 말레이시아 그린엑스와 MOU…“부동산 자산 디지털 유동화”

By Kyunghwan Jung, Korea Financial News
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