South Korea Archives

South Korea financial regulator wants digital asset firms to disclose holdings

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19 July, 2023

South Korea financial regulator wants digital asset firms to disclose holdings

The new disclosure requirement is geared toward creating "more consistent and clear information about companies that issue or hold virtual...

South Korea: Prosecutors pursuing Do Kwon plan to launch new investigation unit

Business

Wahid Pessarlay

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18 July, 2023

South Korea: Prosecutors pursuing Do Kwon plan to launch new investigation unit

To avoid events like Terra's collapse from recurring, South Korea dedicates its efforts to creating its first-ever investigation unit focusing...

South Korea: Financial regulator wants staff to disclose digital currency holdings

Business

Wahid Pessarlay

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14 July, 2023

South Korea: Financial regulator wants staff to disclose digital currency holdings

South Korea’s Financial Services Commission move is in response to the request of the country’s Anti-Corruption and Civil Rights Commission.

Terra co-founder Daniel Shin faces first court hearing in South Korea

Business

Wahid Pessarlay

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12 July, 2023

Terra co-founder Daniel Shin faces first court hearing in South Korea

The South Korean court noted that it would study the submissions of Daniel Shin's legal team; both parties are expected...

South Korea passes bill aimed at protecting consumers a year after Terra’s collapse

Business

Wahid Pessarlay

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7 July, 2023

South Korea passes bill aimed at protecting consumers a year after Terra’s collapse

The latest bill comes with severe consequences for breachers but pundits claimed that the regulation is stuck in the perspective...

South Korean telecom giant KT to invest $5.3 billion in AI by 2027

Business

Wahid Pessarlay

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29 June, 2023

South Korean telecom giant KT to invest $5.3 billion in AI by 2027

The South Korean telecommunication firm, KT Corporation, is invested in the intersection of AI and robotics as well as in...

South Korea: Major banks team up to create security token after greenlight from financial regulator

Business

Wahid Pessarlay

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25 June, 2023

South Korea: Major banks team up to create security token after greenlight from financial regulator

The alliance headed by NongHyup Bank plans to launch a platform for issuing token securities in the coming months, as...

Tech

Wahid Pessarlay

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14 June, 2023

OpenAI CEO urges South Korea to focus on chips to get ahead in AI development

OpenAI is turning to South Korea for semiconductors and memory chips in a bid to boost its AI production, with...

Do Kwon may face prison time in US, South Korea amid tight extradition race

Business

Wahid Pessarlay

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12 June, 2023

Do Kwon may face prison time in US, South Korea amid tight extradition race

South Korean prosecutor Dan Sunghan thinks that sending Do Kwon to South Korea is the most rational decision to recover...

South Korea: Lawmakers pass law mandating officials to disclose digital currency holdings

Business

Wahid Pessarlay

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30 May, 2023

South Korea: Lawmakers pass law mandating officials to disclose digital currency holdings

The new regulation will include digital currencies in the list of private interests that public officials in South Korea must...

South Korea: Lawmakers propose law for public officials to disclose digital asset holdings

Business

Wahid Pessarlay

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24 May, 2023

South Korea: Lawmakers propose law for public officials to disclose digital asset holdings

By including digital currencies as part of the reporting requirements, South Korean lawmakers hope to reduce the illegal acquisition of...

In South Korea, a power tussle is brewing for right to regulate digital assets

Business

Wahid Pessarlay

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21 May, 2023

In South Korea, a power tussle is brewing for right to regulate digital assets

Bank of Korea argues it has the right to access data of VASPs due to the risks tied to offering...

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