Cryptonews Tags South Korea

# South Korea (Page 82)

Despite its relatively small size, South Korea is a global powerhouse when it comes to cryptocurrency industry. Often mentioned in the same breath as Singapore or Malta, Korean love for all things crypto has its roots in the country’s traditional inclination towards high technologies and openness to their use. Today, South Korea accounts for some 30% of total crypto trading on a global scale, with even the banking sector in that country making the news with its love for blockchain. South Korea is also well known for its highly developed cryptocurrency exchange scene including the likes of Bithumb, Upbit, Coinone and others.

Over 100 South Korean ICOs Launched in Singapore this Year – Report

Over 100 South Korean companies have launched initial coin offerings (ICOs) in Singapore this year, with cryptocurrency entrepreneurs now “flocking” to the South East Asian country to launch tokens, according to media outlet Herald Economy.The report claims “dozens” of South...

S Korean Fishermen, Farmers To Use Blockchain Trading Platform

South Korea’s South Jeolla Province is set to launch a blockchain-powered platform that it says will allow farmers and fishermen to trade their produce via a shared, distributed ledger.The province is one of the country’s biggest agricultural providers. Some 40% of its population works...

‘Bogus’ ICO Ordered to Repay Investor USD 1 million

A South Korean court has ordered the issuers of a high-profile company accused of issuing a bogus initial coin offering (ICO) to repay around USD 1 million to one of its victims. Criminal proceedings against the company, which issued the allegedly bogus CoalCoin are still active. However, one of...

The Kingdom of Exchanges Accounts Only 1% of Trading Volumes

The majority of cryptocurrency exchanges (more than 20) are based in the UK, but the vast amount of volume flows through Malta, a Morgan Stanley, an American investment bank, research showed.The top five countries by number of exchanges are the UK, Hong Kong, USA, Singapore and Turkey, whereas...

, by Sead Fadilpašić

S Korean Telco Giant Plans ICO Consultancy, Trading Platform

South Korean telecoms giant SK Telecom says it will launch a blockchain-powered platform that will let customers manage financial assets online and shop on e-commerce sites. Also, it is readying a consultancy service for IT startups or small and mid-sized companies who want to pursue...

Singapore Energy Provider to Launch Global Power Marketplace

The government-owned SP Group, also known as Singapore Power, says it will launch a solar power trading platform that uses blockchain technology in Singapore later this year.SP Group says its initiative will allow residential and other small-scale solar energy generators to sell power to businesses...

S Korean Giant to Create Insurance Solution at New ‘Blockchain Hub’

Hanhwa Group, South Korea’s eighth biggest company, has unveiled a 15-storey building in Seoul’s exclusive Gangnam district, in the hope that it will become a “hub of blockchain development.” Hanhwa says that it has also created a “blockchain team,” whose task...

“South Korean Exchanges Are in a State of Confusion”

The self-regulatory Korea Blockchain Association (KBA), has criticized the South Korean government for its “lack of guidance” – hitting back at suggestions that the country’s cryptocurrency exchanges are violating a code of conduct they agreed in December last year.Kim...

S Korean Experts: ‘Time to End Restrictive Blockchain Regulations’

Some of the most prominent names in South Korean IT have laid into the government’s blockchain policies, saying current regulations are “akin to martial law.”Lee Min-hwa, the chairman of the Korea Creative Economy Research Network and a professor at the Korea Advanced Institute of...

Survey: 40% of Crypto Investors Were Driven by Curiosity

Media outlet Chosun Biz reports that according to a survey of 800 South Korean adults, one in three citizens aged 18 and above has invested in cryptocurrencies. The survey was conducted by exchange platform Bithumb, who said that traders’ average holdings were worth some USD 5,050.Per the...

Small and Medium-sized Business Goes Blockchain in South Korea

A major association of South Korean small and medium-sized businesses (SMBs) has signed a memorandum of understanding with a blockchain venture – potentially allowing for blockchain technology-powered peer-to-peer lending and real-time business transactions.The Federation of Professional...

South Korean Regulators May Suspend Exchanges’ Corporate Bank Accounts

South Korean financial regulators may move to suspend the corporate bank accounts of the country’s small- and medium-sized cryptocurrency exchange platforms.A special unit of the Financial Supervisory Service is currently working with the Financial Services Commission as part of a series of...

South Korean Investors Snubbing Real-name Crypto Banking

Media outlet Money Today claims that South Korean customers appear loath to open real-name cryptocurrency bank accounts. In January this year, the government unveiled guidelines that required cryptocurrency to Korean won transfers through banks to be made via special real-name, social security...

Major S Korean Hospital to Use Blockchain Platform for Medical Records

The Hanyang University Medical Center has signed a memorandum of understanding with blockchain venture MediBlock as the center looks to move its medical records onto a blockchain-powered platform.The university says it will work in conjunction with MediBlock to build a platform that helps store...

S Korean Regulators Begin On-Site Investigations of Bank Crypto Accounts

South Korean regulatory bodies the Financial Supervisory Commission (FSC) and the Financial Supervisory Service (FSS) say they will begin on-site investigations at several of the country’s top banks. The regulators are set to investigate bank accounts linked to cryptocurrency exchange...

South Korean Lighting Company CTL Edging Closer to Singapore ICO

South Korean lighting and electrical components manufacturer CTL has created a Singapore-based subsidy as it prepares to launch an ICO in the country. South Korean media outlet Maeil Business Newspaper says the new company, called Visual Identity, will work with RHTLaw Taylor Wessing, one of...

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