Dongdaemun Merchants Cooperative (DDMTOWN)-World-OKTA, MOU signed

19 Aug 2022

The Dongdaemun Merchants Cooperative announced that it had signed a comprehensive MOU for the metaverse era with the World-OKTA (World-OKTA) on the 23rd at the World Korean Trade Association headquarters secretariat.

This MOU is mainly based on close cooperation using the global network of the World Korean International Trade Association with branches in 143 cities in 68 countries and the metaverse platform DDMTOWN of the Dongdaemun Merchants Cooperative.

Specifically, it contains the contents of cooperation between the two organizations, such as opening the office of the World Korean Trade Association in the virtual space of the metaverse platform DM Town, pioneering overseas markets for Dongdaemun merchants' products, and joint marketing without borders.

Dongdaemun Merchants Cooperative Chairman Yang Chun-gil said, "The signing of this MOU will be of great help to Dongdaemun merchants." He added, "DDM Town, which embodies the world-class fashion cluster Dongdaemun as a metaverse, and World, which has global infrastructure around the world. We expect the collaboration with Octa to have a ripple effect.”

Vice Chairman Kim Young-ki, who attended on behalf of World Korean International Trade Association Chairman Jang Young-sik, said, "The era will come when Korean businesspeople from around the world can easily meet and share information in the metaverse. With this MOU, the World Korean Trade Association and Dongdaemun We will support merchant cooperatives to promote practical cooperation in Metaverse and other areas of interest.”

DM Town of Dongdaemun Merchants Cooperative is Dongdaemun's first metaverse platform that embodies Dongdaemun as a mirror world, and is about to release a beta version in June.

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