The two letter domain, KR.com, has been sold to Chinese investor, Dai Yue. The letter combination “KR” represents Korea as an international country code.
The price was in the millions of dollars, according to the buyer, who announced the acquisition of KR.com during a blockchain exchange meeting in Beijing, China.
Dai Yue justified the price based on the letters association with the populous nation of Korea, represented internationally as “KR.”
KR.com acquired by Chinese domain investor, Dai Yue
The article covering the sale of KR.com, translated from Chinese, states the following:
“In the Korean market, domain names are of great significance. Koreans have a strong sense of patriotism. During the economic crisis, Korean nationals launched a massive patriotic activity to help the government get rid of the crisis. The Korean nationals took out the gold in their hands to acquire the won to help the country survive the economic woes. The patriotism of Korean nationals is admirable. The Korean domain name with its own “national image” is highly accepted and purchased in South Korea. Korean local telecommunications companies spent $5 million in 2000 to acquire korea.com, a move that also created a national domain name. The highest record of purchases.
According to Dai Yue, the domain name kr.com holder, kr.com was registered in 1991 and is a long-established domain name. It was four years earlier than the domain name korea.com registered in 1994. And the domain name kr.com is a two-character domain name, which is shorter than korea.com, with more convenient input methods and more convenient memory features.“
Many thanks to Global Investment Consultant and Domain Broker, Cate Lim, for sharing the source of the news with us; she independently communicated with Dai Yue, who reputedly also acquired the domain JP.com earlier this year.
The article, translated into English.
