Randi Zuckerberg Visits Busan and Promotes Establishment of a Corporation in the City

Facebook’s former chief marketing officer Randi Zuckerberg, and CEO of Assemble Stream,  plans to establish a corporation in Busan and invest in a media content start-up company.

Busan Mayor Park Hyung-joon met Zuckerberg at Nurimaru APEC House on June 10 and talked about the revitalization of the blockchain industry and cooperation with the city of Busan.

Also, on the 11th, they had breakfast together and discussed more specific ways of cooperation.

At this meeting, CEO Zuckerberg established Assemble Stream’s special purpose corporation (SPV) in Busan that utilizes blockchain technology to deliver content using metaverse, AR, VR, and blockchain technology to NFT (Non-Fungible Token, non-fungible token) to support and foster related startups, spread technology, and promote investment in promising companies.

Assemble Stream will be the largest shareholder of this corporation, and related domestic companies will participate as joint operators and is an investment company founded by Zuckerberg to invest in new global media technologies.

CEO Zuckerberg shows a great interest in blockchain technology and cultural contents including NFT, and in particular, suggests various possibilities such as ways to foster the cultural industry by applying new technologies to K-POP, and the infrastructure and development of Busan, a cultural contents city highly appreciated the possibility.

Randi Zuckerberg is the older sister of Facebook founder Mark Zuckerberg. After graduating from Harvard University in psychology, she served as Facebook’s chief marketing officer from 2004 to 2011, playing a key role in growing Facebook into a global company.

Image: City of Busan

Currently, as the CEO of Zuckerberg Media, a content-related company, Zuckerberg Institute, a business consulting company, and ‘Assemble Stream’, an investment company in media and new technology industries, she is active and influential in various fields as a radio host and writer.

This meeting was prepared to discuss cooperation plans with Busan, which was designated as a special blockchain regulation-free zone, with the common interest of blockchain as Zuckerberg promoted a new project related to blockchain through the Assemblestream Fund.

Busan Mayor Park Heong-jun said that Busan is striving to create a blockchain ecosystem based on its vision of a green smart city, and is promoting demonstration projects in various fields such as logistics, tourism, and finance and attracting related companies.

In this regard, he hoped that Busan and Zuckerberg could work closely together as partners in the future.

The city of Busan plans to conduct follow-up working-level discussions with Assemble Stream for the establishment of the corporation and requested a re-visit to Busan to conclude an agreement with CEO Zuckerberg in July or August.

An official from Busan City said that if Silicon Valley’s abundant capital and technology were linked with domestic startups, it would be an opportunity to not only nurture a new technology ecosystem but also to concentrate related companies in Busan, a special zone for free regulation of blockchains, providing administrative support and follow-up consultations.

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Haps Staff
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