South Korea Financial News
09.06 / 12:17
Blockchain
UPS
Pool
Solana Launches $100m Web3.0 Fund for South Korean Startups
Solana, one of the biggest Layer-1 blockchain protocols, through its subsidiaries Solana Ventures and Solana Foundation, has launched a $100 million fund to back startups in the South Korea Web3.0 ecosystem.
09.06 / 08:47
business
Blockchain
Terra Luna
Terra
Unsustainable
Anchor dev claims he warned Do Kwon over unsustainable 20% interest rate
Anchor protocol was originally designed to offer an interest rate of 3.6% but this was dialed up to 20% just a week before release to attract more investors, a core developer alleged in an interview with Korean media outlet JTBC.
09.06 / 03:31
regulation
Exchange
South Korean Crypto Exchanges Prepared to Self-regulate, Says Ruling Party
South Korea’s ruling political party – the People’s Power Party – has stated that the nation’s leading crypto exchanges have created plans that could see them form a self-regulating body that could be empowered to take cross-platform decisions on matters such as delisting and the suspension of transactions.
08.06 / 22:43
SEC
Gemini
Bitcoin
Bears
Bitcoin bears have plenty of reasons to hold BTC price below $32,000
Since May 10, the Bitcoin (BTC) chart shows a relatively tight range of price movement and the cryptocurrency has failed to break the $32,000 resistance on multiple occasions.
08.06 / 16:33
Blockchain
Digital
AXY
Platform
Solana bids $100M On DeFi, GameFi in South Korea
Solana is in the news today after it unveiled a new $100 million fund for South Korean web3 entrepreneurs. The funds were raised equally by Solana Ventures and the Solana Foundation, a Swiss organization that promotes the network’s growth.
08.06 / 13:05
litecoin
Trading
privacy
Five South Korean Crypto Exchanges to Delist Litecoin Following Mimblewimble Upgrade
All five of South Korea’s licensed, fiat-trading crypto exchanges have announced they will delist litecoin (LTC) after developers rolled out the Mimblewimble Extension Block protocol.
08.06 / 12:57
regulation
litecoin
privacy
Major South Korean crypto exchanges delist Litecoin
Major cryptocurrency exchanges in South Korea have delisted Litecoin (LTC) weeks after flagging its privacy-focused MimbleWimble (MWEB) upgrade.
08.06 / 10:17
Blockchain
NFT
defi
solana
Solana Ventures sets up $100M fund for GameFi and DeFi in South Korea
Solana Ventures and the Solana Foundation have formed a $100 million fund to help support the growth of nonfungible token (NFT), blockchain gaming and decentralized finance (DeFi) projects in South Korea.
07.06 / 13:01
New York State
Terraform Labs
Law Decoded, May 30–June 6: Terra’s aftermath in China, Japan and South Korea
The “long waves” of TerraUSD’s May 7 collapse, which we noted two newsletters ago, are extending even further. Last week brought some notable reactions to the stablecoin’s depegging in the East Asia region.
06.06 / 15:19
NFT
Environment
Machine Learning
Q&A: Renowned AI artist CSLIM on NFT use cases, rethinking rarity, and whether the market is in decline
The NFT market is undergoing a painful downturn right now — but many in the space regard this as an opportunity to build.
04.06 / 11:49
business
Blockchain
investigation
Investigations
South Korea ramps up crypto investigations and regulations
On Friday, June 3, South Korea’s Financial Supervisory Service (FSS) began an investigation into payment gateway services that work with digital assets. The FSS is South Korea’s financial regulator that operates under the Financial Services Commission (FSC), both of which are government institutions.
04.06 / 03:37
cryptocurrency
Crime
Social Media
Hacker Used ‘Social Media Data Leak’ to Steal USD 660K in Crypto from 90 Victims - Police
Police in Seoul, South Korea, have arrested and charged a 30-year-old man after officers reportedly found evidence that he may have stolen some USD 660,000 worth of crypto using data he harvested from a popular social media network.
03.06 / 18:39
03.06 / 16:59
Blockchain
Technology
Stablecoin
Adoption
Luna Classic
Terra 2.0: A crypto project built on the ruins of $40 billion in investors' money
Terra remained the focus of the majority of headlines throughout May for its spiral collapse leading to a loss of over $40 billion in investors’ money. Despite some early resistance from the community and heavy backlash from the likes of Binance CEO Changpeng “CZ” Zhao, Terra co-founder Do Kwon managed to relaunch the collapsed network with a new chain called Terra 2.0 (Phoenix-1).
03.06 / 14:39
Stablecoin
Investing
Legal
Big Wallets Exited Anchor/UST While Smaller Fish Continued to Invest - Jump Crypto
A number of bigger Terra (LUNA) ecosystem investors abandoned their positions as the terraUSD (UST) peg began to slip away last month – with smaller-scale investors continuing to buy as the coin’s price plummeted, according to the trading firm Jump Trading Group’s crypto arm Jump Crypto.
02.06 / 19:01
cryptocurrency
Adoption
Survey
Bitcoin
NOT
Just 18% of Respondents Do Not Expect Bitcoin to Become Legal Tender in 3 Years - Survey
Potentially fueling a bullish approach to bitcoin (BTC) investments, only 17.9% of surveyed individuals said that they do not expect BTC to become legal tender within three years, according to a recent report prepared by The Economist Group and commissioned by crypto platform Crypto.com.
02.06 / 12:45
Adoption
regulation
Survey
Investors' perception of crypto is changing for the better: Economist survey
A report published by the Economist paints a bright future for cryptocurrency adoption, with survey respondents anticipating growing demand in the near future.
02.06 / 11:55
Facebook
Adoption
South Korean government becomes an early investor in metaverse
South Korea, a nation known for its strict crypto regulatory stance, is betting big on the metaverse. The government will invest over 223.7 billion won ($177.1 million) directly in various metaverse projects.
02.06 / 03:13
Altcoins
Exchange
Terra
Bitcoin
Upbit Operator Distances Itself from Terra-LUNAC ‘Investment’, Says It Swapped Coins for Bitcoin
Dunamu, the operator of Upbit, South Korea’s biggest crypto exchange, has moved to distance itself from connections with Terraform Labs’ terra (previously LUNA, now - LUNAC) – dismissing notions that its management “may have invested directly” in the Terra network, and labeling reports as “clearly false.” And while previous reports had claimed that a Dunamu subsidiary had invested a large chunk of its founding capital into LUNAC tokens, only to sell the coins off in February last year, the firm stated that it had not liquidated the coins for cash, but had instead swapped them for bitcoin (BTC).
01.06 / 01:07
regulation
Bitcoin Regulation
Terraform Labs
Terra
committee
In wake of Terra collapse, South Korea plans new crypto oversight committee: Report
The Terra ecosystem’s rise and fall has had major consequences all around the world, but there’s no doubt that South Korea, the birthplace of its’ creator, was the most concerned country of them all.
31.05 / 20:25
Legal
Terra
Mystery South Korean Company that ‘Worked on Terra Network’ Faces Media Scrutiny
South Korean media outlets say they have unearthed evidence that a blockchain firm based in Seoul has a close relationship with Terraform Labs – and may have been developing for the Terra network under the radar. But the plot may already have thickened – with allegations that the National Tax Service (NTS) found evidence of a “suspicious flow of transactions” between the firm and Terraform Labs when it investigated the firms last year.
breaking news about South Korea
What is the current situation in South Korea?
In South Korea, the spotlight is on socially significant developments that impact the interests of residents.
Where can I find reliable news about South Korea?
We publish in-depth coverage about the situation in South Korea, based on information from regional journalists.
What shapes the media agenda in South Korea?
The news landscape of South Korea is shaped by key decisions by local authorities, reflecting its local way of life.
