City Seoul Financial News
30.06 / 12:27
Citi
Reuters
Manufacturing
Samsung
HON
Executive
letter
A jailed South Korean chip executive denies stealing Samsung data for China factory in a letter
Samsung Electronics. In a handwritten letter to Reuters, his first comments to media since he was detained on May 25, Choi Jinseog elaborated on his defence plan and said the allegations against him regarding the Xian plant were not substantiated. Prosecutors earlier this month indicted the former Samsung executive for illegally obtaining secret information to build a semiconductor plant only 1.5 km (1 mile) from a Samsung factory in Xian, China.
26.06 / 06:33
BTC
Legal
Bitcoin
NOT
South Korean Court Rules That Bitcoin ‘Is Not Money’ – And Crypto’s Not Subject to Interest Rate Rules
A South Korean court has ruled that “Bitcoin (BTC) is not money,” and that “interest rate rules don’t apply” to business deals involving cryptoassets.
17.06 / 02:31
Waters
Platform
STO
South Korean Security Tokens Market ‘May Be Worth $287B by 2030’
South Korea’s financial industry thinks the nation’s security token offerings (STO) market could be worth $287 billion by 2030, with the biggest commercial banks in the country “lining up” to get involved.
16.06 / 02:42
regulation
Terraform Labs
Terra
bail
Extradition
Do Kwon heading into extradition custody in Montenegro after receiving bail: Report
Terraform Labs co-founder Do Kwon will reportedly be taken into extradition custody in Montenegro, according to a report by the regional edition of Radio Free Europe (RFE). He also faces questions about ties to a local political figure.
10.06 / 12:25
business
Technology
Adoption
ChatGPT
OpenAI CEO highlights South Korean chips sector for AI growth, investment
Sam Altman, the CEO of ChatGPT developer OpenAI, met with South Korean President Yoon Suk Yeol on June 9 and urged South Korea to play a leading role in manufacturing the chips needed for artificial intelligence (AI) technology. Altman also expressed an interest in investing in Korean startups and collaborating with bigger chipmakers like Samsung Electronics.
08.06 / 14:59
Legal
Terraform Labs
Korean Prosecutors Target Terra Founder Do Kwon's Crypto Assets Amid Multi-Country Legal Issues
Korean prosecutors are targeting the cryptocurrency assets of Do Kwon, the founder of failed blockchain project Terra.
08.06 / 02:55
Provident
Target
Platform
North Korean ‘Crypto Hackers Targeted S Korean Ministers’ – What Do We Know?
North Korean crypto hackers “targeted South Korean ministers” in a campaign last year, Seoul-based police officials have claimed.
31.05 / 02:57
Man
CEO
Platform
scam
S Korean Police Bust Two ‘Crypto Scam Rings’ Worth a Combined $350m – Crypto Fraud on the Rise?
South Korean police have shut down two suspected crypto scams they think are worth a combined $350 million, with hundreds of victims believed to have been duped.
25.05 / 07:15
Waves
regulation
Platform
Fighting
crypto sector
South Korean Prosecution Vows to ‘Review’ Crypto Sector as Scandal Intensifies
South Korea’s Prosecutor-General has promised a “thorough review” of the crypto sector amid rising “public suspicion” about politicians and their crypto holdings.
16.05 / 13:29
CBDC
Samsung
Samsung and Bank of Korea Partner for In-Depth Offline CBDC Payments Research
Samsung Electronics and the Bank of Korea have inked a partnership to research Central Bank Digital Currency (CBDC) technology that could facilitate offline transactions.
15.05 / 16:03
business
Upbit
Bithumb
raid
South Korean authorities raid Upbit, Bithumb crypto exchanges after political scandal
Prosecutors in South Korea raided the offices of two local cryptocurrency exchanges due to investigations surrounding the digital assets of lawmaker Kim Nam-kuk.
15.05 / 10:01
10.05 / 18:51
business
Terra Luna
Terra
$176M of Do Kwon's assets are frozen: Report
On May 10, local news outlet Hankyung reported that Do Kwon, co-founder and former CEO of Terraform Labs, had over 233.3 billion Korean won ($176 million) in personal assets frozen as part of ongoing criminal proceedings.
05.05 / 13:37
UPS
Web3
Crypto Regulation Halts Growth of S Korean Web3 Unicorns, Warns Professor
A leading South Korean professor says that restrictive crypto laws are stopping Web3 unicorns from growing in the nation.
26.04 / 10:35
SEC
Legal
Investment
Terraform Labs
Terra
Terra Co-Founder Among Ten Formally Charged in South Korea Following Months-Long Investigation – $185 Million Worth of Assets Frozen
South Korean prosecutors have indicted Terraform Labs co-founder Daniel Shin and nine others on several charges, including violations of capital markets law related to the failed Terra/Luna project.
25.04 / 13:11
Blockchain
regulation
Investments
SEC
U.S.
Sec Charges
Do Kwon seeks SEC charges dismissal as S.Korea rules LUNA as non-security
Court documents were filed indicating that Do Kwon, co-founder and CEO of Terraform Labs, has asked for the dismissal of charges leveled against him by the Securities and Exchange Commission (SEC).
25.04 / 09:39
Blockchain
regulation
LUNC
Terra Luna
Terraform Labs
Terra
Terraform Labs co-founder and nine others indicted in South Korea
The financial crimes unit at the Seoul Southern District Prosecutors’ Office reportedly indicted Terraform Labs co-founder Shin Hyun-seong and nine other individuals for the collapse of the Terra stablecoin ecosystem.
24.04 / 11:35
Blockchain
regulation
security
Terra
NOT
LUNA token is not a security, rules S.Korean court in Terra co-founder case
A South Korean district court has dismissed charges of security violations against former Terraform Labs CEO and co-founder Hyun-seong Shin. The court deemed LUNA (LUNA) (the native token of the LUNA ecosystem) as non-security under Korea’s Capital Markets Act.
22.04 / 06:17
business
regulation
SEC
Fraud
Court
Terraform Labs
Terra
Lawyers
Do Kwon lawyers reportedly dismiss SEC's securities fraud allegation
The lawyers representing Terraform Labs co-founder Do Kwon reportedly argued in court against the allegations pressed by the US Securities and Exchange Commission (SEC). The federal agency had sued Kwon for allegedly defrauding US investors by illegally offering unregistered securities.
21.04 / 11:21
Remark
Bankruptcy
Youth Insolvency Spikes in South Korea – Is a Rise in Crypto Investment to Blame?
Crypto investment is being blamed for a spike in the number of South Korean people aged 20-39 declaring insolvency.
20.04 / 11:59
regulation
Altcoin
Police
Terraform Labs
Terra
Terra co-founder Do Kwon reportedly indicted for document forgery
Prosecutors in Montenegro have reportedly issued the indictments to Terra co-founder Do Kwon after arresting the executive in late March.
what's happening in city Seoul
What is the current situation in city Seoul?
In city Seoul, the spotlight is on major events that spark public discussion.
Where can I find reliable news about city Seoul?
We publish verified updates about the situation in city Seoul, based on information from official representatives.
What shapes the media agenda in city Seoul?
The news landscape of city Seoul is shaped by the region’s internal dynamics, reflecting its unique context.
