Places South Korea

KB Financial Group, a South Korean based financial holding company, has just been awarded a patent for its application security technology, according to a report in South Korean media outlet The Digital Times. Two Degrees of Separation KB Financial has developed technology that separates the security program from the app as a whole – meaning […]

South Korean crypto exchange Bithumb sold 38 percent of its stake to a Singapore-based plastic surgeon for $350 million on Oct. 11, as reported by Reuters. Bithumb’s $350 Million Deal Founded in 2013, Bithumb averages over a billion dollars in daily trade volume and lists 52 cryptocurrencies. Its significant liquidity is a result of Korean […]

Pointing out the government’s delay in regulating initial coin offerings (ICOs) since a year, South Korean lawmakers called for swift regulatory action in a parliamentary forum on Oct. 2, reported Business Korea. After China put forth a resistive stance with their infamous blanket ban on crypto-assets in September 2017, South Korea followed suit and banned […]

Cryptocurrency exchanges in South Korea faced the dreaded government hammer last week, as the authorities decided to exclude the burgeoning business type from the country’s “Venture Company” certification, reported Business Korea on Oct.1. The certification provides small and medium businesses with tax breaks, relaxed government policies, and privileged support for raising funds and acquiring lines […]

Competition among the so-called “third generation” projects is fast brewing in the South Korean blockchain and cryptocurrency market, as companies scramble to find the industry’s “killer app” and spur widespread adoption. Korea’s Blockchain Push As reported by Business Korea on Sept. 27, the third generation platforms look to build what Ethereum couldn’t, and primarily tackle […]

Despite a formal crackdown on foreign-made financial products, North Korea is increasingly utilizing cryptocurrencies to circumvent strict U.S. sanctions, reported Asia Times on Sept. 24. North Korea Adopts Bitcoin Spearheading the revelations are two Washington D.C.-based financial analysts, Lourdes Miranda and Ross Delston, who command expertise in combating terrorist financing and anti-money laundering (AML). The […]

XRP, the native cryptocurrency of the Ripple network is up another 10 percent as investors speculate on what has caused its price to nearly triple in the past week. According to prominent investors and analysts, the staggering 155 percent price increase of Ripple in the last seven days from $0.27 to $0.69 is largely attributable […]

South Korean telecom company LG U+ revealed Sunday that it will be rolling out a new blockchain-based, cross-carrier payment system (CCPS) via partnerships with mobile carriers in Taiwan and Japan, according to The Korea Times. The new system will allow LG U+ customers to buy products using their mobile phones at certain retailers in Taiwan […]

In a move that could send Japan’s cryptocurrency market skyrocketing into American digital assets trading, Huobi Global’s subsidiary Huobi Japan has been declared a majority stakeholder in Japan’s BitTrade platform. The move also marks how Singapore’s powerhouse entrepreneur Eric Cheng has leveraged his international brand with the trillion-dollar company to become the largest trading platform […]

The Bank of Korea has warned that significant price differences between South Korean exchanges and those abroad, or the “Kimchi Premium,” may emerge in the coming years. Kimchi May Strike Back According to local outlet No Cut News, South Korea’s central bank cautioned officials of another “Kimchi Premium”-like situation if regulations and crypto trading frameworks […]

Bithumb, a South Korean cryptocurrency exchange, is allegedly being exploited by a sophisticated group of traders who have created a fake trading volume to the tune of $250 million-plus a day on the exchange’s order books. Suspicions Abound On Sept. 2, Alex Krüger, a crypto trader, pointed out suspicious activities on Bithumb’s order books and […]

This week, South Korean lawmakers observed the government’s confusing stance on distributed ledger applications, with blockchain technology promoted across the board and ICO projects facing strict crackdowns. In response, Korean representatives have called for new, minimum guidelines on token issuers, according to Business Korea. Lawmaker Pushes for ICO Regulations A year after banning blockchain startups […]

This past June, ICON, the most valuable blockchain project in South Korea, secured a strategic partnership with Kyobo Life, the country’s largest insurance firm alongside Samsung, to develop blockchain-based services. In 2017, prior to the creation of the newly drafted legislation that will recognize cryptocurrency- and blockchain-related businesses as legitimate, regulated institutions, South Korea’s Ministry […]

Blockchain is pervading countries around the world, even those that have kept isolated. North Korea is hosting its first-ever international cryptocurrency and blockchain conference on Oct. 1, 2018. North Korea Joins the Blockchain Movement North Korea will host industry leaders from around the world in its first cryptocurrency and blockchain conference, Oct. 1-3, reports The […]

The South Korean National Assembly has kickstarted an “extraordinary” meeting for discussing ICO regulation, cryptocurrency and blockchain frameworks, as well as other steps to support optimal growth of the digital assets sector, Business Korea reported. Korea’s Cryptocurrency Push The Korean government is swiftly taking steps in the cryptocurrency sector as it looks to bolster its […]

Despite showing reluctance toward cryptocurrencies, the South Korean government revealed its intention to “nurture” eight growing sectors of the domestic economy–including blockchain technology. Korea’s Blockchain Push On Aug. 13, local news outlet Yonhap reported that South Korea set aside $4.4 billion (5 trillion won) to invest in distributed ledger systems and explore various administrative frameworks for […]

Spearheading development to establish Jeju Island as a blockchain and cryptocurrency hub, Governor Won Hee-ryong issued a formal request to the Korean government, Aug. 14, to designate the island as a special economic zone for the burgeoning digital asset sector. ICO Regulations Pitched to Government According to Korea Joongang Daily, Hee-ryong held a meeting with high-ranking […]

An increasing number of blockchain companies are flocking to the initial coin offering (ICO) market to initiate token sales and raise millions of dollars in an unregulated market. According to several local projects, brokers are demanding millions of dollars to be paid out for unconditional listings. $2 Million Unconditional Listing Last week, cryptocurrency researcher Christopher […]