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CryptoCurrency

South Korea’s SK Square to Launch Its Own Crypto

  • The digital asset is intended to be used in the firm's own metaverse.
  • Another SK Group subsidiary signed a contract with Korbit on March 23.
by Felipe Erazo
Institutional FX

South Korean Brokerages Net Profits Surged in 2021, Data Shows

  • Transaction fees grew by 23.2% on-year to 16.8 trillion won.
  • South Korean banks traded a record amount of forex in 2021.
by Felipe Erazo
News

New South Korean President Seeks to Give a Local Crypto Push

  • He wanted to legalize ICOs that became very popular in the country years ago.
  • Many people see Yoon Suk-yeol as a 'crypto enthusiast' who advocates for the industry.
by Felipe Erazo
News

South Korea’s KB Bank to Offer Crypto Investment Fund

  • The bank formed a committee to evaluate the market and products.
  • It will become the first bank in the country to offer such products.
by Arnab Shome
News

Equinix, GIC Form Joint Venture to Build 2 Data Centers in South Korea

  • Both data centers will be in Seoul.
  • It will be an expansion of the company’s hyper-scale data center program.
by Arnab Shome
CryptoCurrency

Gen.G Esports Signs Partnership with South Korean Bithumb Crypto Exchange

  • Gen.G Esports has partnered with Bithumb exchange.
  • The crypto exchange will sponsor Gen.G's sports team events.
by Nicholas Otieno
Retail FX

South Korea Sees Record FX Trading Demand in 2021

  • The demand surged as imports and exports for the country jumped.
  • Both spot and derivatives FX demand increased.
by Arnab Shome
News

Bank of Korea Completes First Phase of CBDC Testing

  • The testing was completed in December 2021.
  • The regulator is now aiming to complete phase two by June.
by Arnab Shome
CryptoCurrency

Coinone to Halt Withdrawal Services to Unverified External Wallets

  • Coinone plans to stop withdrawals to unverified external wallets.
  • The South Korean crypto exchange wants to comply with the law.
by Nicholas Otieno
Regulation

South Korea to Delay Crypto Tax until 2023

  • The South Korean National Assembly will vote on the amendment on December 2.
by Felipe Erazo
News

South Korean Financial Subcommittee Discusses Delay of Crypto Tax Law

  • A local media outlet noted that all the parties involved had heated discussions in the meeting about the matter.
by Felipe Erazo
News

A Man Tried to Set Himself on Fire at Upbit Offices in South Korea

  • The unnamed South Korean individual was taken into custody by the police and charged with attempted arson.
by Felipe Erazo
News

K-Pop Band BTS’ Management Agency Denies Ties with Army Coin

  • Army Coin's price surged by over 5,000% when it was launched on Wednesday.
by Felipe Erazo
News

South Korean Teachers Pension Fund Plans to Invest in Bitcoin ETF

  • The Korean Teachers' Credit Union was established in 1971 in Seoul.
by Felipe Erazo
News

Politician: South Korean Tax Authority Unprepared to Collect Crypto Taxes

  • The opposition lawmaker says the NTS is not even clear on their definition of non-fungible tokens.
by Felipe Erazo
Regulation

South Korea Could Delay Crypto Tax Law after Consensus from Ruling Party

  • The Ministry of Economy and Finance could challenge the move made by the Democratic Party of Korea.
by Felipe Erazo
News

Most South Koreans Support the Government to Tax Cryptocurrencies

  • The survey found that just 33% of the participants opposed the crypto tax law.
by Felipe Erazo
Institutional FX

Mobile Stock Trading Volume in South Korea Soared by 220% in 2020

  • Data collected by local media outlets noted that 116.3 million trades were made on average per day in 2020.
by Felipe Erazo
Executive Moves

Crypto.com Hires Former Visa Executive Patrick Yoon to Head South Korea

  • He has extensive knowledge about the South Korean financial services landscape.
by Arnab Shome
News

Bithumb Bans Foreigners Who Failed Mobile Phone Verification

  • The exchange is aligning its services with the requirements of the local authorities.
by Arnab Shome
Regulation

New South Korean Regulator Chief Calls to Not Delay Discussions on Cryptos

  • Koh Seung-beom was confirmed as the new FSC chairman last week in a hearing at the National Assembly.
by Felipe Erazo
Retail FX

KB Securities Is Investing $43M to Acquire an Indonesian Brokerage

  • The approval of the deal is now pending with the Indonesian financial regulator.
by Arnab Shome
News

South Korea to Establish a Crypto-Focused Bureau amid Regulatory Tussles

  • The KFIU will also set up a 'Policy Management Planning Division' as part of the brand-new bureau launch.
by Felipe Erazo
Regulation

South Korea’s FSC Nominee Believes Cryptos Could Not Work as Currencies

  • The top nominee to lead the South Korean financial watchdog does not see it feasible to recognize cryptos as financial assets.
by Felipe Erazo
News

Crypto Exchange Upbit Registers with South Korean FIU

  • Only four local crypto exchanges have mandatory banking deals to maintain real-name client accounts.
by Arnab Shome
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