South Korean Newspaper to Give its Subscribers Kakao’s Klay Token

In an unprecedented move, the mainstream South Korean newspaper Hanguk Kyungjae has announced that it will begin giving out crypto tokens to subscribers of its print and online editions.

The newspaper (English name: “Korea Economic Daily”) is one of the nation’s leading financial dailies. It has partnered with Ground X, the blockchain arm of the internet giant Kakao, in a deal that will see it reward subscribers to its paid services with the Kakao-issued klay (KLAY) token.

Per a report in the newspaper, subscribers will be able to claim 10% of their monthly subscription fees back in the form of klay tokens. The newspaper and its operator, the Hankyung Media Group, has joined the governance council of Klaytn, the blockchain network launched by Kakao.

Fellow members include exchange giants like Huobi and Binance, as well as domestic business giants such as LG Electronics, an arm of the business conglomerate Hanhwa and the cosmetics powerhouse AmorePacific.

The media outlet added that it would also reward subscribers who opened a KakaoTalk-linked Klip crypto wallet with further token rewards, and that there would be more klay giveaways for people who downloaded and ran its own desktop and mobile stock trading apps.

A further payout of klay 1 will also be offered to anyone downloading the Hanguk Kyungjae mobile app, with 2 tokens handed to subscribers of the newspaper’s “trading wars” services, which pits stock traders against one another in a competitive arena.

The media outlet pointed out that it was the first in the country to begin offering blockchain-powered rewards to its subscribers.

Klay is listed by domestic exchanges and international platforms like Bittrex Global and OKEx.

At the time of writing, KLAY, ranked 17th by market capitalization on CoinMarketCap, trades at around USD 3.3 and is down by 11% in a week, trimming its monthly gains to 133%. The price skyrocketed by 2,664% in a year.
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