Articles of Korea

The South Korean government again allocated 3.9 billion won to support the development of the blockchain, looking for 9 small and medium-sized blockchain companies

South Korea is committed to supporting the development of the country's blockchain technology and has announced a grant of 3.9 billion won ($ 3.09 million) in its latest initiative. The grant will be managed by the Korean Ministry of Science and Information and Communications Technology (ICT), will support up to 9 blockchain companies, and will […]

Korean Special Financial Law and Market Analysis: Only Predators Can Survive? What is the fate of the exchanges?

Click to review the previous article: South Korea's Special Financial Law and Market Analysis: 4 Years of Negative Regulatory Action After the South Korean Parliament held a formal meeting on March 5 to vote on the amendments to the "Related Laws on the Reporting and Use of Certain Financial Transaction Information" (hereinafter referred to as […]

South Korea officially passes amendments to the special financial law! Cryptocurrency Institutionalization Goes Next

Source: Shallot Blockchain Yesterday, the news that the Supreme Court of India overturned the Indian central bank's crypto ban caused some bitterness in the crypto community. And this afternoon, the entire parliament of the South Korean Parliament also officially passed the " Report and Utilization of Information on Certain Financial Transactions" (hereinafter referred to as […]

South Korea's largest telecommunications company KT develops blockchain local currency for Busan, officially launched on December 30

KT, South Korea's largest telecommunications company, has just announced the launch of a blockchain-based local currency for Busan, one of the country's largest cities, and it is reported that the currency will be launched on December 30. Source: Pixabay Local news media dongA reported on December 19: "Dongbaekjeon is a blockchain-based card-based local currency issued […]

South Korea is enacting a cryptocurrency bill, virtual currencies will be classified as digital assets

According to the news, the Korean National Assembly is working on a bill to provide a legal basis for cryptocurrencies. According to the Korean version of the Korean Daily, the bill classifies virtual currencies as digital assets and aims to bring regulatory transparency to South Korea's cryptocurrency market. It is reported that the bill has […]

Why is the bitcoin trading volume of Korean first-tier exchanges difficult to recover?

Source: LongHash As the country with the third-largest crypto exchange in daily trading volume (after the United States and Japan), Korea's cryptographic trading activity has declined sharply since 2018. In December 2017, when South Korea's demand for cryptocurrency reached a new high, the so-called “Kimchi Premium” appeared even as investors' funds rushed into the asset […]

Bank of Korea official: China's central bank digital currency helps the internationalization of the renminbi

According to Coindesk, Hong Kyung-sik, director of financial settlement at the Central Bank of Korea, said at a conference this week that, like most advanced economies, South Korea has little demand for the central bank's digital currency. China's development of the central bank's digital currency will help the internationalization of the renminbi. Hong said at […]

South Korea blockchain enters fast lane: SM, Kakao, Samsung, LG and other giants ALL IN

In mid-September, SM, one of the three major entertainment companies in South Korea, announced its “currency” plan, which detonated the “coin circle” and “rice circle”. At this time, the mutual chain pulse observation, the Korean giant enterprise in the field of blockchain development, is far more than the SM family. On September 3, South Korean […]

Let the girl in the rice circle enter the coin circle

The play of the currency circle is extending to the rice circle (fan circle). Recently, South Korea's largest entertainment company SM (SMEntertainment) publicly announced a new business – plans to issue their own currency. From the stigmatized star-fighting family to the rice circle culture gradually accepted by the public, the star-hunting star has gradually evolved […]

South Korea's SK Group will establish a blockchain-based donation platform to issue two platform tokens

"Korean Daily" technical publication "North Korea Information Technology" reported that C&C, the IT department of South Korea's SK Group, one of South Korea's largest groups, will create a blockchain donation platform and issue two new tokens on the platform. (Source: Pixabay ) The platform will be built using the Ripple Xcurrent solution, a real-time full […]