Cyworld Jet announced on the 18th that the injunction lawsuit filed by Beta Labs against the company was dismissed.
On the same day, the 50th Civil Settlement Division of the Seoul Central District Court made a decision regarding Cyworld Jet and Beta Labs to “dismiss all applications for this case.”
Beta Labs has argued that it should start a blockchain business with Beta Labs, citing the law firms opinion that the MOU signed with Cyworld Jet on March 16 last year is in effect. The company then filed an injunction suit against Cyworld Jet on the 4th of last month.
According to CyworldJet, the court said in its decision, “It was legal for CyworldJet to terminate the contract with Beta Labs.”
Cyworld Jet plans to launch its own blockchain business in earnest.