Korean Crypto Exchanges Go on Hiring Spree, Stealing Workers From Banks

Major South Korean exchanges are on a hiring spree. The demand for cryptocurrencies and the government’s mandate for stronger security systems are driving the need for additional manpower at crypto exchanges. Their attractive employment benefits and flexible work environment are pulling workers from traditional banks and financial companies.

Major Korean Exchanges Are Hiring

South Korea’s largest cryptocurrency exchanges have announced that they will be hiring new staff. This announcement came amid the Korean government tightening regulations for cryptocurrencies.

Bithumb, which already has 450 employees, said it will hire 400 additional full-time staff. 300 of them will be at the company’s customer centers while 100 will be at its headquarters, Money Today reported. CEO Jeon Soo-yong was quoted by Chosun, “We decided to hire many workers to help create more jobs for young people and expand our operations.” The publication elaborated:

A hundred of the new workers will handle IT, overseas marketing and legal affairs at the headquarters, while the rest [300 employees] will man the call centers.

Rival Upbit, backed by Kakao Corporation, currently employs about 100 people. The company plans to hire more than 100 new employees this year. Korbit will also increase personnel from about 60 to more than 100, Money Today detailed.

The accelerated growth rate of the Korean cryptocurrency market is driving demand for manpower. In addition, the demand for experienced IT personnel spiked at crypto exchanges due to a recent government order for “the establishment of a security and trading system at virtual currency exchanges with a level equal to that of financial institutions,” the publication described…

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