TechFlow News, May 5: According to Chosun, South Korean publicly listed IT service provider ITCEN Global announced raising KRW 40 billion (approximately USD 3 million) through the issuance of convertible bonds. The funding round was fully subscribed by ITC Holdings, wholly owned by the KCGI Innovation Growth ESG Fund. Proceeds will be used to expand new business lines, including Web3 and security token offerings (STOs). The company stated that if South Korea’s digital asset regulatory framework is finalized in the second half of the year, these initiatives are expected to accelerate.
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