The Luna-Tera crisis, which evaporated 50 trillion won in just three days, is entering a new phase.

This is because Kwon Do-hyeong, CEO of Terraform Labs, who is the main cause of this situation, launched 'Luna 2.0' on the 28th of last month and plunged himself into controversy again.

At this point, I am curious about the mentality of CEO Kwon.

Dreaming of a revival even after making virtual currency into a virtual currency, will he become the savior of the exploding investors or a con artist?

The story I will tell you from now on is a kind of tracker for CEO Kwon.

How he got here I think he'll be a few pieces of the whole puzzle.



Articles announcing the birth of a young and promising venture entrepreneur from Stanford University started appearing in 2017.

CEO Kwon revealed himself to the world by developing a technology called 'Anify'.

With this technology, if you install the 'Anify App' on a personal mobile connected to Wi-Fi, the range of Wi-Fi is extended through mobile-to-mobile connection.

'Anify' was established in September 2015.



However, what is noteworthy here is the interview with a certain internet media that Kwon conducted while he was the CEO of 'Anify'.

CEO Kwon explained the background of 'AniFi' being selected for TIPS (Private Investment-led Technology Startup Support), "I received investment from Infobank in the process of asking for business advice from InfoBank CEO Park Tae-hyung, a senior at Stanford University, and I decided to apply for TIPS. It is said that he said, "I founded Anify by gathering engineers with co-CEO Jang Ki-seok, a friend of Stanford University."



What are TIPS?

On what basis did Infobank, a KOSDAQ-listed company with corporate messaging technology, invest in CEO Kwon?

What role did CEO Jang play in 'Anify'?

As he read the related articles, he began to be filled with curiosity.



TIPS is a startup support project operated by the Ministry of SMEs and Startups.

As the state has limitations in discovering promising ventures in a timely manner, it is a system that allows the private sector to take over with a flashing sense.

The excavation is carried out by solid IT-related companies called accelerators.

When the accelerator discovers and recommends startups, the Korea Angel Association selects the list after screening, and the Ministry of SMEs and Startups selects the startups on the list as TIPS, unless there are any abnormalities.

Infobank was one of the accelerators at the time.

So, the TIPS selection process is an authoritative audition for the start-up industry.

If you are selected, you can receive a subsidy and receive love calls from famous companies.



CEO Kwon Do-hyeong's 'Anify' was selected by TIPS in April 2016.

Within seven months of establishing the corporation, we received 700 million won of money, including the national R&D budget of 500 million won and the start-up subsidy of 100 million won.

But I noticed one strange thing.

This is the history of co-CEO Jang Ki-seok, hidden in the shadow of CEO Kwon.

Jang Ki-seok is the son of Jang Jun-ho, co-CEO of Infobank.

According to the Infobank announcement, until 2012, Jang Ki-seok was the major shareholder with 120,000 shares of Infobank.

The wife and children of CEO Park Tae-hyung are 'wife', 'children' and 'women'.



Enlarging an image


In summary, 'Anify', co-founded by CEO Kwon and Jang Ki-seok, was selected for TIPS within 7 months of its establishment, while Infobank invested in 'Anify' and even recommended it as a TIPS candidate to the Angel Association. .

Am I the only one who thinks it's a bit sloppy?

Wasn't there a 'friend's chance' or 'friend's father's chance'?



So I asked Infobank.

At that time, there was no question as to which part of 'Anify' was discovered and recommended to the Angel Association, how much Infobank officially invested in 'Anify', and recommending my son's company to the project to receive the national budget. Whether it was decided that there would not be, etc.

However, Infobank has been silent for a week.



While tracing the origins of CEO Kwon, there was a reasonable doubt that his beginning was unfair from the start.

If two young people participated in the audition program as a team, and the judge was the father of one of them, would it be fair to say that the passing of the team was fair if one of the team members was the judge's assistant?



Apart from this, I would like to point out that even a well-designed system constantly needs to be improved.

As explained in TIPS, accelerators such as Infobank have enormous powers in selecting startups.

The greater the authority, the tighter the surveillance must be.

Transparency should always be maintained where the money goes into it.

However, even if an accelerator recommends a startup with a special relationship, there are currently no restrictions.

Regarding this, the Ministry of SMEs and Startups said, "In the future, we will improve the system to explain special relationships such as 'father company' and 'company made by children or relatives' in the TIPS application documents."

He added, "If I recommend a related person, I will look into that part in detail."

It's late, but it's welcome.



The pieces found this time will not be grounds for denying everything about CEO Kwon.

However, I hope that it will be an opportunity to slowly dig through once again, starting with the evaluation that he achieved a 'venture myth' at a young age.