Yoon Suk News

Yoon Suk Yeol's security chief resigned Friday, a week after leading a team that blocked an attempt to arrest the impeached president over his short-lived imposition of martial law. Park Chong-jun offered to resign earlier in the day as he appeared for police questioning over alleged obstruction of duties last week. His offer was accepted by Acting President Choi Sang-mok. The resignation comes as the Corruption Investigation Office for High-ranking Officials, which is leading the probe into Yoon for alleged insurrection, is mulling their next move to take Yoon in custody. Vice chief of the Presidential Security Service team will serve as an acting leader, a PSS official said. It's not immediately clear if the vice chief will cooperate with the probe team's warrant execution. The vice chief has also defied multiple police summons to appear for questioning and has received a third summons to appear before investigators on Saturday, according to Yonhap News.

South Korea has officially become a ‘super-aged society’ with 20% of its population aged 65 or older in accordance to a data released by the Ministry of the Interior and Safety, reported Newsweek.

South Korea has warned that it might consider supplying weapons to Ukraine following allegations that North Korea has sent troops to Russia to bolster Moscow's military efforts in Ukraine. South Korean officials view these developments as a serious security threat, as they fear that Russia may reciprocate by providing North Korea with advanced weapons technologies that could enhance its nuclear and missile capabilities aimed at South Korea.

A new South Korean draft law could delay the launch of crypto tax, meaning traders may avoid paying tax on their profits until 2028.

Japanese Prime Minister Fumio Kishida says he has high hopes to discuss further strengthening of three-way strategic cooperation with the United States and South Korea at a summit hosted by President Joe Biden at Camp David later this month

South Korean legal experts are unsure if “victims” of fraud allegedly committed by Do Kwon and Terraform Labs executives will ever be able to recoup their funds – with an estimated $37 billion now “missing.”

A North Korean ballistic missile landed less than 60 kilometres off South Korea's coast on Wednesday in a barrage of apparent tests President Yoon Suk-yeol said was "effectively a territorial encroachment".

A period of national mourning has been declared in South Korea after Saturday night's Halloween crush that killed at least 153 people and injured scores more in a packed nightlife area in Seoul.

The South Korean central bank has indicated that initial coin offerings (ICOs) will be allowed under the Digital Assets Framework Act, according to a local news report. That comprehensive legislation is expected to be introduced in 2023 and implemented the following year. 

 

The chair of South Korea’s Financial Services Commission said the regulator plans to expedite its review of 13 bills pending in the country’s National Assembly related to digital assets.

South Korea is considered the fourth biggest gaming market and one of the biggest blockchain adopters. However, the country has banned play-to-earn (P2E) blockchain games due to the crypto integration. The new pro-crypto president Yoon Suk-yeol had hinted at lifting the ban, but the government has yet to show any significant effort.

The South Korean government will step up the launch of a new regulatory body to police the crypto sector – and could fast-track its creation as a direct response to what it has dubbed the “terra (LUNA) incident.”

More regulatory scrutiny could be incoming for the crypto sector in South Korea in the wake of the terra (LUNA) and terraUSD (UST)  crash – with exchanges set to come under the same kind of scrutiny as Terraform Labs and its Founder and CEO Do Kwon.

The administration of the newly-elected President of South Korea, Yoon Suk-yeol, wastes no time in its drive to maintain the country’s stature as a center for innovation as it hopes to roll out comprehensive crypto legislation in 2023 and institutionalize the sector by 2024.

South Korea’s President-Elect Yoon Suk-yeol has indicated he is ready to come good on some of the crypto-related campaign promises that helped him win power earlier this year – and could end an initial coin offering (ICO) ban that dates back to 2017.

Kakao Bank, South Korea’s biggest neobank and an affiliate of the internet giant Kakao, has refused to confirm or deny that it has struck a partnership deal with Coinone – one of the four biggest crypto exchanges in the country.

Yet more big-hitting South Korean companies from outside the crypto sector are beginning to branch out into crypto-related business – with the e-commerce giant TMon and the KOSDAQ-listed hotel chain Ananti making moves on the token issuance front.

A summit of South Korean lawmakers, industry chiefs, and leading academics has called for the country’s President-Elect Yoon Suk-yeol to create a minister – or a ministry-level agency – for the crypto sector.

South Korean mega-conglomerates – so-called chaebol business groups such as Samsung and LG – could be eyeing cryptoasset issuances, analysts have opined.

SK Square, an offshoot of one of South Korea’s biggest chaebol conglomerates has announced plans to launch a cryptoasset before the year is out – and intends to link it to a whole host of the conglomerate’s business platforms.