PANews reported on June 5 that according to the Chosun Ilbo, some large Korean corporate conglomerates, including SK Group, LG CNS and CJ Group, may face huge losses in their investments in NAEMO Market, the NFT trading platform of Bithumb Meta, a metaverse company under Bithumb. NAEMO Market has been in a loss-making state since its establishment, although it has received 17 billion won in funds from Bithumb Meta's parent company Bithumb Korea and attracted nearly 10 billion won (about 7.3 million US dollars) in investment from the above-mentioned large companies.
However, as the NAEMO market is set to close on June 30, these investments will be wiped out and the Korean conglomerates may collectively lose nearly 10 billion won.