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New Gov’t Initiative to Put South Korean Trade on Blockchain by 2021

News The South Korean government is planning to establish a digital trade foundation to reduce the costs of trade by using blockchain technology. Reduce trade costs by more than 90%On Oct. 14, South Korean Finance Minister Hong Nam-ki introduced the country’s Development Plan for Digital Trade. Un..

Sudden Cyworld Shutdown Puts Clink Crypto Investors at Risk: Report

News South Korea’s Cyworld social media platform shuttered its services on Oct. 1 without giving any prior notice, English-language local media The Korea Times reported on Oct. 14. What’s more, the website for its Clink (CKCT) crypto-asset has also become inaccessible. In response to the news, loc..

Bitcoin Price: Which Countries Have the Biggest Premiums?

Analysis Up until early 2018, major cryptocurrency markets the likes of South Korea and Japan demonstrated high premiums for Bitcoin. At the 2017 peak, when the Bitcoin price was trading at around $20,000 in the U.S. spot market, Bitcoin was being traded in South Korea’s cryptocurrency exchange ma..

South Korean Blockchain Startup Raises $8M for Identity Authentication

News Blockchain company Iconloop has secured 10 billion Korean won (KRW) (over $8 million) from seven investment companies participating in a Series A funding round. Per an Oct. 10 announcement, it was Iconloop’s first venture capital investment since its establishment in 2016, with the participat..

Hyundai’s Blockchain Arm to Set Up $10M Fund for Mainnet Launch: Report

News Hdac Technology, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group, plans to set up a $10 million blockchain investment fund in 2019. Hdac testnet to launch in November 2019Hdac will spend the funds to launch its mainnet as well as to develop decentralized appli..

Major South Korean Store Chain Supports Blockchain Payments App

News Mobile payments app CHAI is launching mobile blockchain-based payments at 13,500 CU convenience stores in South Korea. According to an Oct. 7 press release shared with Cointelegraph by blockchain startup Terra, CHAI — which operates on the Terra blockchain — will now be accepted as a means of..

South Korea’s Crypto Youth | Cointelegraph Documentary

Video In the last few decades, South Korea has been among the fastest developing countries in the world. It is currently the planet’s third-largest crypto economy, after the United States and Japan. Cointelegraph traveled to Korea to meet a new generation of crypto entrepreneurs who are building ..

South Korea Is Hoping for Regulatory Clarity as Crypto Laws Toughen

Analysis South Korean regulators seems to strongly favor blockchain over cryptocurrencies, and some recent events have further proven this hypothesis. As a result, as much as 97% of local digital assets exchanges are in danger of extinction, local reports suggest. Meanwhile, local politicians and..

Samsung-Backed Blockchain Firm Launches in UAE After Securing $16M

News Blocko, a South Korean blockchain provider, launched in the United Arab Emirates after securing $16 million in funding. Building full-scale enterprise blockchain solutionsOn Oct. 2, Middle Eastern business publication Arabian Business reported that Blocko has partnered with SEED Group, a memb..

Bithumb Acquisition Deal Appears To Be ‘Off’

News Overseas investors are reportedly likely to step in to acquire South Korean crypto exchange Bithumb due to alleged difficulties with payments in its existing acquisition deal. As Cointelegraph reported previously, BK Global Consortium, a firm headed by one of South Korea's leading plasti..

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