Author: Wang Yanhua
Dr Kim Byung Gun appears in the news often as the founder and director of BK Plastic Surgery–the biggest plastic surgery outfit in South Korea with a 15-storey building in Seoul.
A year ago, the esteemed plastic surgeon who has been practising for 23 years founded another enterprise. He is now the CEO of ICO Platform Pte Ltd as well, on top of helming a plastic surgery empire.
He told Block Asia, “I love blockchain. I believe that blockchain will change the world.”
He first discovered blockchain through his friends who had blockchain businesses in Korea. Soon after, he joined many Initial Coin Offerings (ICOs), a decision from which he has reaped great benefits.
“I made a very good investment, and I want others to be part of this too,” said Dr Kim.
BRINGING COMPANIES OVER
ICO Platform is a company that helps Korean blockchain companies to be registered in Singapore. Dr Kim told Block Asia that he is currently working with more than 10 Korean companies, and he has successfully brought 2 to Singapore so far.
Among his clients is MyCreditChain, an up-and-coming blockchain startup that has already garnered wide attention for aiming to bring ownership of personal information back to people.
“All the Korean companies want to come to Singapore or Switzerland. Singapore’s MAS (Monetary Authority of Singapore) creates a more favourable environment, while the Korean government is at present a little against it.”
He cited the manifold benefits of Korean companies moving to Singapore, “Korea has much more regulation while Singapore has less, and gives new blockchain companies more freedom. It’s also better tax-wise. Business registration is easier and faster too.”
But these Korean companies face a few hurdles as well.
Dr Kim discussed them with Block Asia, “There’s definitely the language barrier and cultural differences, as many can’t speak English or Chinese.
“And in Korea it’s not easy to move money out. The government has regulations against transferring money out. You need to undergo a very long process to apply and complete many, many, documents.”
That is where Dr Kim’s company comes in to help with the entire process, including translation and documentation.
Dr Kim has now happily settled in Singapore. He told Block Asia that he just obtained citizenship a few weeks ago, after being a Permanent Resident in Singapore for 10 years. He is the Vice-Chairman of the Korean Association in Singapore, and has twin daughters studying in a local secondary school.
He said, “I feel that Singapore is the best country for me.”