ICONLOOP has appointed James Kim, the Chairman and CEO of AMCHAM Korea (The American Chamber of Commerce in Korea), as its first company advisor. ICONLOOP has found many ways of incorporating its technology into various industries in Korea and has grown rapidly to encompass approximately 160 employees within three years since its establishment in May 2016. ICONLOOP is making an all-out effort to become a more mature IT company this year as it marks the start of the blockchain’s full-fledged market entry.
Historically, ICONLOOP and ICON have maintained a conservative strategy when it comes to onboarding advisors. When advisory appointments do happen, it's always significant in nature, and this case is no exception. James Kim is the Chairman and CEO of AMCHAM Korea, an organization that was formed in 1953 to promote “investment and trade between Korea and the United States”. For reference, other high ranking AMCHAM members include executives from companies like Lockheed Martin, FedEx, PwC, and IBM.
The ability to form strategic and beneficial relationships is a hallmark of a successful business, and ICONLOOP has made consistent progress on that front over the past year. Kim's appointment has the potential to open up a lot of doors for ICONLOOP when it comes to finding enterprise clients for its private blockchain solution – some of which may eventually be connected via the public ICON blockchain, which requires ICX for transaction fees.
According to ICONLOOP, Kim will “work on expanding enterprise business, setting the overall business direction, and establishing macro strategies for ICONLOOP.” From this statement, “setting the overall business direction” really sticks out. Typically, an advisory role entails “suggesting” instead of “setting”. It's uncertain if this statement was lost in translation. In either case, Kim's appointment paints a bright future for ICONLOOP. If his role is strictly advisory, ICONLOOP will potentially gain access to a variety of clients. If he is given the freedom to truly set the direction of the business, there's no doubt he'll do an incredible job, considering his track record of working in executive roles at some of the largest companies in the world.