Upbit Receives Presidential Commendation at Korean Red Cross's 121st Anniversary Ceremony

Dunamu, which operates the Upbit cryptocurrency exchange, received a Presidential Commendation in recognition of its contributions to national disaster relief and humanitarian efforts.

Dunamu said on October 27 that it received the government commendation at a ceremony marking the 121st anniversary of the Korean Red Cross, held on October 26 at the headquarters of Woori Bank in Jung-gu, Seoul.

Dunamu has carried out ongoing relief efforts to help residents in disaster-stricken areas recover their daily lives. It provided 3 billion won for wildfire recovery in Samcheok, Gangwon Province, in 2022 and 2 billion won in aid following heavy rain in central Korea. It then donated 500 million won for the 2023 Gangneung wildfire, 300 million won for flood damage that year, and 1 billion won to areas affected by major wildfires last year, including Sancheong and Uiseong. In September last year, it responded swiftly to local needs by providing one million 2-liter bottles of water, worth about 500 million won, through the Korean Red Cross for residents of Gangneung struggling with a severe drought.

Dunamu has also made donations using Bitcoin. During the major earthquake in Türkiye in 2023, it joined Upbit users in donating a total of 14 Bitcoin for relief efforts. It also donated Bitcoin to help with flood recovery in Korea last year, demonstrating how digital assets can serve as a new tool for social contribution.

Beyond providing donations, Dunamu has also worked to strengthen the country's emergency medical response system. Using 300 million won from funds it donated last year to support wildfire victims in the Yeongnam region, Dunamu arranged for the construction of five vehicles for the Disaster Response Medical Team (HERU) and donated them to the Korean Red Cross this past April. Deployed at five Red Cross hospitals across the country, in Seoul, Incheon, Sangju, Tongyeong, and Yeongju, the vehicles are equipped with emergency medical equipment and can be dispatched immediately to disaster sites.

Dunamu CEO Oh Kyung-seok said, "This Presidential Commendation is meaningful because it recognizes our efforts to fulfill our social responsibilities by drawing on the resources and technology available to businesses during national disasters and crises. We will continue to share what we have with those in need and work to turn the potential of digital assets and technology into social value."

This content was produced with the assistance of AI translation services.